A company insider recently sold 5,011 shares of Honeywell International Inc. [HON]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Honeywell International Inc. shares valued at $952,090 were sold by Lewis Gregory P on Jul 28. At $190.00 per share, Lewis Gregory P sold 5,011 shares. The insider’s holdings dropped to 43,625 shares worth approximately $7.56 million following the completion of this transaction.

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Also, Adamczyk Darius sold 40,000 shares, netting a total of over 7,780,800 in proceeds. Following the sale of shares at $194.52 each, the insider now holds 165,015 shares.

As published in a research note from BofA Securities on July 11, 2022, Honeywell International Inc. [HON] has been rated up from a Neutral to a Buy and the price target has been revised to $210. This represents a 17.5% premium over Thursday’s closing price. Analysts at Berenberg started covering the stock with ‘”a Hold”‘ outlook in a report released in mid January. As of January 07, 2022, UBS has increased its “Neutral” rating to a “Buy” for HON. Earlier on January 04, 2022, Credit Suisse downgraded its rating. Their new recommendation was “a Neutral” for HON stock which previously was a “an Outperform”.

Analyzing HON’s Price Performance

On Thursday, Honeywell International Inc. [NASDAQ: HON] plunged -0.60% to $173.25. The stock’s lowest price that day was $172.02, but it reached a high of $174.75 in the same session. During the last five days, there has been a drop of approximately -2.04%. Over the course of the year, Honeywell International Inc. shares have dropped approximately -16.91%. Shares of the company reached a 52-week high of $221.89 on 01/13/22 and a 52-week low of $167.35 on 07/14/22. A 50-day SMA is recorded $188.42, while a 200-day SMA reached $192.52. Nevertheless, trading volume fell to 2.23 million shares from 2.51 million shares the previous day.

Support And Resistance Levels for Honeywell International Inc. (HON)

According to the 24-hour chart, there is a support level at 171.93, which, if violated, would cause prices to drop to 170.61. In the upper region, resistance lies at 174.66. The next price resistance is at 176.07. RSI (Relative Strength Index) is 29.57 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.68, which suggests the price will decrease in the coming days. Percent R is at 94.32%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Honeywell International Inc. subject to short interest?

Stocks of Honeywell International Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.6 million shares to 5.56 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.16 million shares. A decline of -10.79% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.9 of the overall float, the days-to-cover ratio (short ratio) decline to 1.9.

Which companies own the most shares of Honeywell International Inc. (HON)?

According to The Vanguard Group, Inc. filings, the company currently owns 57,603,900 shares, which is about 8.55% of the total HON shares outstanding. The investor’s shares have appreciated by 680,810 from its previous 13-F filing of 56923090.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $6,184,993,915. BlackRock Fund Advisors reduced a -0.92% interest valued at $5.51 billion while Massachusetts Financial Services sold a -827,065 stake. A total of 0 shares of Honeywell International Inc. were sold by Newport Trust Co. during the quarter, and 1,977,199 were bought by Wellington Management Co. LLP. In its current portfolio, Geode Capital Management LLC holds 11,949,491 shares valued at $2.26 billion.

In terms of Honeywell International Inc. share price expectations, FactSet research, analysts set an average price target of $204.92 in the next 12 months, up nearly 16.75% from the previous closing price of $174.30. Analysts anticipate Honeywell International Inc. stock to reach $234.00 by 2022, with the lowest price target being $183.00. In spite of this, 28 analysts ranked Honeywell International Inc. stock as an Overweight at the end of 2022. On December 17, 2021, Mizuho assigned a price target of “a Buy” to the stock and initiated coverage with a $245.


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