Investors Buy Shares of Honeywell International Inc. (HON) on Weakness
Investors purchased shares of Honeywell International Inc. (NYSE:HON) on weakness during trading hours on Thursday. $87.23 million flowed into the stock on the tick-up and $54.24 million flowed out of the stock on the tick-down, for a money net flow of $32.99 million into the stock. Of all companies tracked, Honeywell International had the 15th highest net in-flow for the day. Honeywell International traded down ($1.42) for the day and closed at $145.44
A number of brokerages have recently commented on HON. Royal Bank of Canada lifted their price target on shares of Honeywell International from $148.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, October 23rd. Credit Suisse Group reiterated a “neutral” rating and issued a $150.00 price target (up from $141.00) on shares of Honeywell International in a research note on Monday, October 23rd. Citigroup Inc. lifted their price target on shares of Honeywell International from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Vertical Research reissued a “buy” rating on shares of Honeywell International in a report on Friday, October 20th. Finally, Cowen and Company reissued a “buy” rating and issued a $150.00 price objective on shares of Honeywell International in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $150.79.
The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. The company has a market cap of $110,799.50, a price-to-earnings ratio of 20.93, a P/E/G ratio of 2.23 and a beta of 0.97.
Honeywell International (NYSE:HON) last released its earnings results on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, hitting the consensus estimate of $1.75. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The firm had revenue of $10.12 billion for the quarter, compared to the consensus estimate of $10.05 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. research analysts expect that Honeywell International Inc. will post 7.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $0.745 dividend. This represents a $2.98 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Honeywell International’s previous quarterly dividend of $0.67. Honeywell International’s payout ratio is 40.30%.
In related news, VP Krishna Mikkilineni sold 13,074 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total value of $1,897,298.88. Following the sale, the vice president now owns 104,998 shares in the company, valued at $15,237,309.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajeev Gautam sold 5,840 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $136.68, for a total transaction of $798,211.20. Following the completion of the sale, the insider now owns 16,597 shares in the company, valued at approximately $2,268,477.96. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Honeywell International by 2.5% during the second quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock valued at $6,626,247,000 after acquiring an additional 1,234,672 shares during the last quarter. BlackRock Inc. increased its position in Honeywell International by 2.8% during the second quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock valued at $6,003,117,000 after acquiring an additional 1,207,893 shares during the last quarter. Ameriprise Financial Inc. increased its position in Honeywell International by 1.6% during the third quarter. Ameriprise Financial Inc. now owns 13,530,401 shares of the conglomerate’s stock valued at $1,918,100,000 after acquiring an additional 207,142 shares during the last quarter. FMR LLC increased its position in Honeywell International by 9.3% during the second quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock valued at $1,120,396,000 after acquiring an additional 714,881 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Honeywell International by 9.1% during the second quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock valued at $1,005,003,000 after acquiring an additional 629,221 shares during the last quarter. Institutional investors own 75.99% of the company’s stock.
About Honeywell International
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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