The firm had revenue of $9.78 billion for the quarter, compared to the consensus estimate of $9.74 billion. The shares were sold at an average price of $106.00, for a total value of $530,000.00.
Net income for the conglomerate in the third quarter was $1.3 billion versus the $1.2 billion, or $1.47 per share, that Honeywell reported for the same quarter a year ago. Ken Fisher’s Fisher Asset Management upped its stake by 2% on the quarter to 30.71 million shares, while Phill Gross and Robert Atchinson’s Adage Capital Management increased its position by 35% to 19.35 million shares. The disclosure for this sale can be found here. This translates into $1.21B profit for HON giving the stock a 15.85 P/E. Of course only in case the $1.55 EPS is accurate. Nelson Peltz’s Trian has recently bought a $2.5 billion stake in the company (see details). Jefferies Group raised their price target on shares of Honeywell global from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Morgan Stanley lowered their price target on Honeywell worldwide from $120.00 to $113.00 in a research report on Wednesday, October 7th. Mar Vista Investment Partners Llc is another bullish fund who is possessing 1.21 million shares of Honeywell global Inc. or 6.76% of their stock exposure.
Honeywell shares have declined 2.05% in the last 4 weeks and 4.66% in the past three months.
As of this writing, shares of Honeywell were trading at $98.95 per share in premarket hours.
Honeywell global (NYSE:HON) last posted its quarterly earnings data on Friday, July 17th. On average, analysts predict that Honeywell worldwide will post $6.10 EPS for the current year. (NYSE:HON). Barclays has a Overweight rating on the shares. The stock has an average rating of Buy and an average target price of $115.47.
Honeywell global Inc. (NYSE:HON) is a diversified technology and manufacturing company. The Company operates in segments: Aerospace, Automation and Control Solutions (ACS), and Performance Materials and Technologies (PMT). The company is a premier supplier of avionics, power and control systems for the aerospace industry.
Sales from Energy, Safety, and Security (ESS) increased 4% due to an increasing growth in Sensing & Productivity Solutions (S&PS) and Security and Fire (HSF). Its PMT segment manufactures and develops process technologies, innovative materials and automation alternatives.
