Honeywell International Inc. (NASDAQ:HON) Shares Acquired by Covenant Asset Management LLC

Covenant Asset Management LLC grew its holdings in Honeywell International Inc. (NASDAQ:HON) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,104 shares of the conglomerate’s stock after buying an additional 140 shares during the quarter. Covenant Asset Management LLC’s holdings in Honeywell International were worth $852,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 1776 Wealth LLC boosted its holdings in Honeywell International by 2.7% in the fourth quarter. 1776 Wealth LLC now owns 1,918 shares of the conglomerate’s stock worth $411,000 after purchasing an additional 50 shares in the last quarter. Indiana Trust & Investment Management CO boosted its holdings in Honeywell International by 0.9% in the second quarter. Indiana Trust & Investment Management CO now owns 5,713 shares of the conglomerate’s stock worth $1,185,000 after purchasing an additional 50 shares in the last quarter. SkyOak Wealth LLC boosted its holdings in Honeywell International by 1.7% in the first quarter. SkyOak Wealth LLC now owns 3,028 shares of the conglomerate’s stock worth $579,000 after purchasing an additional 52 shares in the last quarter. Pflug Koory LLC boosted its holdings in Honeywell International by 0.4% in the first quarter. Pflug Koory LLC now owns 14,772 shares of the conglomerate’s stock worth $2,823,000 after purchasing an additional 53 shares in the last quarter. Finally, Viawealth LLC boosted its holdings in Honeywell International by 0.9% during the first quarter. Viawealth LLC now owns 5,707 shares of the conglomerate’s stock valued at $1,091,000 after acquiring an additional 53 shares during the period. 74.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HON shares. StockNews.com started coverage on shares of Honeywell International in a report on Monday, August 21st. They set a “hold” rating for the company. UBS Group decreased their price target on shares of Honeywell International from $185.00 to $180.00 and set a “sell” rating for the company in a report on Friday, July 28th. Finally, Morgan Stanley upped their price target on shares of Honeywell International from $219.00 to $221.00 in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $215.07.

Honeywell International Price Performance

NASDAQ:HON traded up $0.34 during mid-day trading on Tuesday, hitting $194.80. The company’s stock had a trading volume of 339,718 shares, compared to its average volume of 2,779,731. Honeywell International Inc. has a fifty-two week low of $166.63 and a fifty-two week high of $220.96. The company has a current ratio of 1.41, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $129.34 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 2.35 and a beta of 1.07. The stock has a fifty day moving average of $191.94 and a 200-day moving average of $195.48.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Thursday, July 27th. The conglomerate reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.03. Honeywell International had a net margin of 15.08% and a return on equity of 34.46%. The firm had revenue of $9.10 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the prior year, the business posted $2.10 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Honeywell International Inc. will post 9.16 EPS for the current fiscal year.

Honeywell International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, August 10th. Honeywell International’s payout ratio is 50.99%.

About Honeywell International

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; and thermal systems, as well as wireless connectivity and management services.