Honeywell’s Target, Estimates Cut at Goldman Sachs (HON)

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Diversified manufacturer Honeywell International Inc. ( HON ) on Monday saw its price target and earnings estimates trimmed by analysts at Goldman Sachs.

The firm said it adjusted its price target on HON from $70 to $69, suggesting a slightly smaller 22% upside to the stock's Friday closing price of $56.40.

Goldman also cut its 2011 and 2012 earnings estimates from $4.10 and $4.80 to $4.05 and $4.75, respectively.

Still, the analyst remained positive on HON's solid balance sheet, visibility in emerging markets, and good late-cycle exposure.

Honeywell shares fell 50 cents, or -0.9%, in premarket trading Monday.

The Bottom Line
Shares of Honeywell ( HON ) have a 2.36% dividend yield, based on Friday's closing stock price of $56.40. The stock has technical support in the $52-$55 price area. If the shares can firm up, we see overhead resistance around the $60-$62 price levels.

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 .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: HON

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