Diversified technology and manufacturing company Honeywell International Inc. ( HON ) on Tuesday saw its "Buy" rating reiterated by analysts at Jefferies & Co.
The firm also backed its $72 price target on HON, which suggests a massive 63% upside to the stock's Monday closing price of $44.14.
A Jefferies analyst commented, "We continue to rate Honeywell International shares BUY. Our estimates remain unchanged at $4.00, $4.40 and $4.85 for 2011, 2012, and 2013, respectively. With a forward P/E multiple of about 10x and a dividend yield of about 3%, the company is selling at a 20% discount to the S&P 500 and offers a premium dividend yield with a superior growth rate."
Honeywell shares were unchanged in premarket trading Tuesday.
The Bottom Line
Shares of Honeywell ( HON ) have a 3.01% dividend yield, based on last night's closing stock price of $44.14. The stock has technical support in the $40-$42 price area. If the shares can firm up, we see overhead resistance around the $47-$50 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.
Created by Dividend.com