Granite Investment Partners LLC Takes Position in Honeywell International Inc. (HON)
Granite Investment Partners LLC purchased a new position in shares of Honeywell International Inc. (NYSE:HON) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,485 shares of the conglomerate’s stock, valued at approximately $210,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Burt Wealth Advisors lifted its position in shares of Honeywell International by 65.4% during the second quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock worth $101,000 after purchasing an additional 300 shares in the last quarter. Mosaic Family Wealth LLC lifted its position in shares of Honeywell International by 11.4% during the second quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock worth $102,000 after purchasing an additional 78 shares in the last quarter. Guidant Wealth Advisors lifted its position in shares of Honeywell International by 15.8% during the second quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock worth $102,000 after purchasing an additional 104 shares in the last quarter. Mascoma Wealth Management LLC lifted its position in shares of Honeywell International by 113.2% during the third quarter. Mascoma Wealth Management LLC now owns 806 shares of the conglomerate’s stock worth $114,000 after purchasing an additional 428 shares in the last quarter. Finally, CKW Financial Group acquired a new stake in shares of Honeywell International during the second quarter worth about $108,000. 76.36% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the stock. Cowen reissued a “buy” rating and set a $150.00 price target on shares of Honeywell International in a research report on Tuesday, October 10th. Vertical Research reissued a “buy” rating on shares of Honeywell International in a research report on Friday, October 20th. Citigroup increased their price target on shares of Honeywell International from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Oppenheimer raised their target price on shares of Honeywell International from $155.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, December 14th. Finally, Morgan Stanley raised their target price on shares of Honeywell International from $145.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, September 22nd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $160.14.
In other Honeywell International news, Director Bradley T. Sheares sold 1,328 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $146.41, for a total value of $194,432.48. Following the transaction, the director now directly owns 4,002 shares in the company, valued at $585,932.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Krishna Mikkilineni sold 13,074 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the completion of the transaction, the vice president now owns 104,998 shares in the company, valued at $15,237,309.76. The disclosure for this sale can be found here. Corporate insiders own 1.56% of the company’s stock.
Shares of Honeywell International Inc. (NYSE:HON) opened at $157.89 on Wednesday. The firm has a market cap of $120,385.83, a P/E ratio of 23.92, a P/E/G ratio of 2.43 and a beta of 0.99. Honeywell International Inc. has a 1-year low of $116.98 and a 1-year high of $159.85. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.54.
Honeywell International (NYSE:HON) last issued its earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.75. The firm had revenue of $10.12 billion for the quarter, compared to analysts’ expectations of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. equities analysts forecast that Honeywell International Inc. will post 7.1 EPS for the current year.
Honeywell International declared that its Board of Directors has approved a stock buyback plan on Friday, December 8th that authorizes the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
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Honeywell International Company Profile
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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