Honeywell International’s Stock Outlook Downgraded by B of A Securities
Analysts Project Slight Price Increase Ahead
Fintel reports that on October 24, 2024, B of A Securities downgraded their outlook for Honeywell International (XTRA:ALD) from Buy to Neutral.
Analyst Expectations Reveal Moderate Growth
As of October 22, 2024, the average one-year price target for Honeywell International is set at €212.11 per share. Predictions range from a low of €189.92 to a high of €240.78. This average target implies a potential increase of 3.44% compared to its last reported closing price of €205.05 per share.
For context, this slight upside could reflect broader trends impacting the company. Investors may recall that Honeywell has historically been a stable player in the industrial sector.
Projected Financial Performance
Honeywell International is projected to report annual revenue of €39.047 billion, reflecting a growth rate of 3.16%. Additionally, the anticipated annual non-GAAP EPS stands at €10.11.
Investor Interest on the Rise
Currently, 3,576 funds or institutions hold positions in Honeywell International. This number has increased by 45 owners, or 1.27%, over the past quarter. The average portfolio weight for all funds invested in ALD has climbed to 0.45%, marking an increase of 1.03%. In total, institutional holdings increased by 1.64% in the last three months, reaching 579,383K shares.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares has reported holding 20,574K shares, translating to 3.17% ownership. This marks an increase from 20,507K shares, a rise of 0.32%. The firm boosted its allocation in ALD by 1.50% in the last quarter.
JPMorgan Chase now holds 19,148K shares, accounting for 2.95% ownership. Previously, they owned 16,520K shares, meaning an increase of 13.73%, and they raised their allocation in ALD by 17.11% over the prior quarter.
VFINX – Vanguard 500 Index Fund Investor Shares presently holds 16,713K shares, which is 2.57% ownership. This is a slight increase from their previous ownership of 16,614K shares, with the firm reducing its allocation in ALD by 0.92% recently.
Wellington Management Group LLP owns 16,450K shares representing 2.53% ownership, down from 17,581K shares, depicting a decrease of 6.88%. Their allocation in ALD was reduced by 1.91% last quarter.
Newport Trust maintains 15,678K shares, representing 2.41% ownership, showing no change over the last quarter.
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This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
