Honeywell Downgraded at Langenberg & Company (HON)
Langenberg & Company reported on Thursday that they have downgraded technology and manufacturing company, Honeywell International Inc.(HON).
The firm has lowered their price target for HON from a “Buy” to a “Hold,” and has maintained its $66 price target. This price target suggests a 2% increase from the stock’s current price of $64.75.
An analyst from the firm commented, “downgrade to Hold from Buy. Close to $66 target. Average Street target is $70 but we note the hottest segment (PMT) is specialty chemical – a 6X EBITDA sector.”
Honeywell shares were mostly flat during premarket trading Thursday. The stock has increased 19% in the past year.
The Bottom Line
Shares of Honeywell (HON) have a 2.53% dividend yield, based on last night’s closing stock price of $64.75. The stock has technical support in the $59-$60 price area. The shares are trading near all-time highs.
Honeywell International Inc.(HON) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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