Legacy Financial Advisors Inc. increased its position in Honeywell International Inc. (NYSE:HON) by 16.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,647 shares of the conglomerate’s stock after purchasing an additional 371 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Honeywell International were worth $575,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of HON. BlackRock Inc. lifted its position in Honeywell International by 4.8% in the fourth quarter. BlackRock Inc. now owns 42,835,736 shares of the conglomerate’s stock worth $9,111,162,000 after purchasing an additional 1,948,217 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Honeywell International by 7,187.3% during the fourth quarter. Bessemer Group Inc. now owns 782,223 shares of the conglomerate’s stock valued at $166,378,000 after acquiring an additional 771,489 shares during the period. First Trust Advisors LP lifted its holdings in shares of Honeywell International by 138.6% during the fourth quarter. First Trust Advisors LP now owns 1,287,575 shares of the conglomerate’s stock valued at $273,867,000 after acquiring an additional 747,974 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Honeywell International by 4.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,204,199 shares of the conglomerate’s stock valued at $2,167,460,000 after acquiring an additional 477,569 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Honeywell International by 3.3% during the fourth quarter. Morgan Stanley now owns 11,728,323 shares of the conglomerate’s stock valued at $2,494,613,000 after acquiring an additional 379,995 shares during the period. 75.97% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Anne T. Madden sold 8,885 shares of the company’s stock in a transaction dated Thursday, April 29th. The stock was sold at an average price of $223.22, for a total value of $1,983,309.70. Following the completion of the transaction, the vice president now directly owns 50,658 shares in the company, valued at approximately $11,307,878.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is currently owned by corporate insiders.
Honeywell International (NYSE:HON) last posted its earnings results on Thursday, April 22nd. The conglomerate reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.12. Honeywell International had a return on equity of 27.69% and a net margin of 14.99%. The business had revenue of $8.45 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the previous year, the business earned $2.21 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. On average, research analysts anticipate that Honeywell International Inc. will post 7.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 4th. Stockholders of record on Friday, May 14th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, May 13th. Honeywell International’s payout ratio is currently 45.59%.
A number of brokerages have issued reports on HON. Credit Suisse Group lifted their price objective on Honeywell International from $224.00 to $235.00 and gave the company an “outperform” rating in a report on Monday. UBS Group lifted their price target on Honeywell International from $180.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, January 15th. They noted that the move was a valuation call. Royal Bank of Canada lifted their price target on Honeywell International from $194.00 to $199.00 and gave the company a “sector perform” rating in a report on Monday, February 1st. Barclays lifted their price objective on Honeywell International from $230.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded Honeywell International from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $222.00 to $244.00 in a research report on Wednesday, April 14th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Honeywell International presently has a consensus rating of “Buy” and a consensus price target of $221.00.
Honeywell International Profile
Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; thermal systems; and connected solutions and data services for aftermarket, as well as wireless connectivity, and management and technical services.
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