Honeywell International Inc. (NASDAQ:HON) Sees Significant Increase in Short Interest

Honeywell International Inc. (NASDAQ:HON) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 9,680,000 shares, an increase of 9.9% from the December 31st total of 8,810,000 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily volume of 4,350,000 shares, the days-to-cover ratio is presently 2.2 days.

Honeywell International Price Performance

Honeywell International stock traded down $1.31 during midday trading on Monday, reaching $222.41. 3,216,701 shares of the stock were exchanged, compared to its average volume of 3,497,072. The company’s fifty day moving average is $225.91 and its 200-day moving average is $215.08. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.12 and a current ratio of 1.44. Honeywell International has a 52 week low of $189.75 and a 52 week high of $242.77. The firm has a market cap of $144.62 billion, a PE ratio of 25.68, a PEG ratio of 2.57 and a beta of 1.05.

Institutional Investors Weigh In On Honeywell International

Institutional investors and hedge funds have recently made changes to their positions in the business. ING Groep NV increased its holdings in shares of Honeywell International by 884.0% in the 4th quarter. ING Groep NV now owns 1,752,472 shares of the conglomerate’s stock worth $395,866,000 after buying an additional 1,574,376 shares during the last quarter. Wellington Management Group LLP grew its position in Honeywell International by 8.4% in the third quarter. Wellington Management Group LLP now owns 17,826,700 shares of the conglomerate’s stock worth $3,684,957,000 after acquiring an additional 1,376,479 shares in the last quarter. International Assets Investment Management LLC increased its stake in Honeywell International by 24,683.3% in the third quarter. International Assets Investment Management LLC now owns 948,704 shares of the conglomerate’s stock valued at $1,961,070,000 after acquiring an additional 944,876 shares during the last quarter. Cibc World Market Inc. lifted its stake in Honeywell International by 320.5% during the fourth quarter. Cibc World Market Inc. now owns 858,336 shares of the conglomerate’s stock worth $193,890,000 after purchasing an additional 654,207 shares during the last quarter. Finally, Mizuho Securities USA LLC boosted its holdings in shares of Honeywell International by 1,147.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 626,071 shares of the conglomerate’s stock worth $129,415,000 after purchasing an additional 575,865 shares in the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HON. Baird R W cut shares of Honeywell International from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. HSBC upgraded Honeywell International from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Wednesday, December 11th. Wolfe Research lowered Honeywell International from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. UBS Group reaffirmed a “buy” rating and set a $298.00 price target (up previously from $215.00) on shares of Honeywell International in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Honeywell International from $233.00 to $231.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Honeywell International presently has a consensus rating of “Hold” and an average target price of $248.29.

About Honeywell International

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company’s Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.