Analyst Sees Future Growth for Honeywell; Increases Price Target (HON)

A Normura Securities Analyst sees a surge in EPS for technology and manufacturing company, Honeywell International Inc.(HON).

Last week, HON reported third quarter earnings, beating analysts expectations by 6 cents, even with a shortfall in expected revenue. With Honeywell’s future plans to improve, analysts at Normura are expecting a surge in EPS growth.

An anaylst from the firm, Shannon O’Callaghan noted, “management will provide a detailed look at 2013 on their December outlook call. So far it sounds like Honeywell is planning for margin expansion on low-single-digit growth. Management expects to realize $150M of incremental restructuring saving in 2013 and for the Thomas Russell acquisition to be accretive,”

Nomura Securities has a rating of a “Buy” on the company, and has raised its price target from $71 to $72. This price suggests a 12% increase over the stock’s current price of $62.86, a 24% increase over the stock’s YTD price of $54.60.

Honeywell shares were mostly flat Monday morning.

The Bottom Line
Shares of Honeywell (HON) have a 2.43% dividend yield, based on Friday’s closing stock price of $62.49. The stock has technical support in the $56-$58 price area. The shares are bumping up 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.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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