Meritage Portfolio Management Acquires New Position in Honeywell International Inc. (NASDAQ:HON)

Meritage Portfolio Management acquired a new stake in Honeywell International Inc. (NASDAQ:HON) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,258 shares of the conglomerate’s stock, valued at approximately $474,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HON. Barclays PLC raised its stake in Honeywell International by 57.3% in the 3rd quarter. Barclays PLC now owns 3,190,755 shares of the conglomerate’s stock valued at $589,462,000 after acquiring an additional 1,162,518 shares during the period. International Assets Investment Management LLC increased its position in shares of Honeywell International by 6,557.2% during the fourth quarter. International Assets Investment Management LLC now owns 940,661 shares of the conglomerate’s stock valued at $197,266,000 after buying an additional 926,531 shares during the period. Van ECK Associates Corp increased its position in shares of Honeywell International by 853.0% during the third quarter. Van ECK Associates Corp now owns 887,629 shares of the conglomerate’s stock valued at $163,980,000 after buying an additional 794,489 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Honeywell International by 51.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,874,877 shares of the conglomerate’s stock valued at $346,365,000 after buying an additional 636,104 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Honeywell International by 27.5% during the fourth quarter. California Public Employees Retirement System now owns 1,739,695 shares of the conglomerate’s stock valued at $364,831,000 after buying an additional 375,158 shares during the period. 75.91% of the stock is currently owned by institutional investors.

Honeywell International Price Performance

HON traded up $0.05 during midday trading on Friday, hitting $193.07. The stock had a trading volume of 1,654,725 shares, compared to its average volume of 3,000,289. The company has a market cap of $125.72 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.23 and a beta of 1.02. The business has a fifty day moving average of $198.25 and a 200 day moving average of $196.22. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.93 and a current ratio of 1.27. Honeywell International Inc. has a 1 year low of $174.88 and a 1 year high of $210.87.

Honeywell International (NASDAQ:HON) last issued its earnings results on Thursday, April 25th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.08. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.03 billion. Honeywell International had a return on equity of 35.17% and a net margin of 15.43%. Honeywell International’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 earnings per share. As a group, equities analysts forecast that Honeywell International Inc. will post 9.94 earnings per share for the current fiscal year.

Honeywell International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $1.08 dividend. The ex-dividend date was Thursday, February 29th. This represents a $4.32 annualized dividend and a yield of 2.24%. Honeywell International’s payout ratio is currently 51.00%.

Analyst Ratings Changes

Several brokerages have recently weighed in on HON. Royal Bank of Canada decreased their price target on Honeywell International from $210.00 to $209.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $215.00 price target (down from $227.00) on shares of Honeywell International in a research report on Tuesday, April 16th. Barclays boosted their price objective on Honeywell International from $230.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Berenberg Bank raised Honeywell International from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $195.00 to $240.00 in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $219.67.

Insider Buying and Selling at Honeywell International

In other Honeywell International news, Director Darius Adamczyk sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $197.19, for a total value of $5,028,345.00. Following the completion of the sale, the director now owns 183,400 shares in the company, valued at $36,164,646. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Honeywell International Profile

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company's 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 services.