Investors Buy Shares of Honeywell International (HON) on Weakness
Investors purchased shares of Honeywell International Inc. (NYSE:HON) on weakness during trading on Thursday. $243.29 million flowed into the stock on the tick-up and $162.16 million flowed out of the stock on the tick-down, for a money net flow of $81.13 million into the stock. Of all companies tracked, Honeywell International had the 24th highest net in-flow for the day. Honeywell International traded down ($1.12) for the day and closed at $141.56
A number of research analysts recently commented on HON shares. Morgan Stanley started coverage on Honeywell International in a research note on Monday, August 20th. They issued an “overweight” rating and a $175.00 target price on the stock. Citigroup cut their price target on shares of Honeywell International from $194.00 to $186.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Argus restated a “buy” rating on shares of Honeywell International in a research report on Monday, October 22nd. HSBC lowered shares of Honeywell International from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a research report on Tuesday, October 2nd. Finally, Barclays upped their price target on shares of Honeywell International from $176.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday, August 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $172.90.
The company has a current ratio of 1.49, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market cap of $105.62 billion, a PE ratio of 17.95, a PEG ratio of 1.82 and a beta of 1.04.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.82 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $0.75. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, November 15th. Honeywell International’s dividend payout ratio is currently 46.13%.
In other news, Director Jaime Chico /Fa Pardo sold 13,400 shares of the stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $145.13, for a total transaction of $1,944,742.00. Following the completion of the sale, the director now directly owns 13,607 shares in the company, valued at $1,974,783.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Krishna Mikkilineni sold 28,281 shares of the stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $143.61, for a total transaction of $4,061,434.41. Following the sale, the vice president now owns 91,829 shares of the company’s stock, valued at $13,187,562.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,644 shares of company stock valued at $6,597,099. 1.33% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Morse Asset Management Inc boosted its holdings in shares of Honeywell International by 4.1% during the third quarter. Morse Asset Management Inc now owns 9,475 shares of the conglomerate’s stock worth $1,577,000 after purchasing an additional 375 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Honeywell International by 4.7% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 140,209 shares of the conglomerate’s stock worth $20,197,000 after purchasing an additional 6,316 shares during the period. Synovus Financial Corp lifted its holdings in Honeywell International by 1.9% in the third quarter. Synovus Financial Corp now owns 105,056 shares of the conglomerate’s stock worth $17,476,000 after buying an additional 1,933 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Honeywell International by 7,972.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 22,844 shares of the conglomerate’s stock worth $889,000 after buying an additional 22,561 shares during the period. Finally, New England Asset Management Inc. lifted its holdings in Honeywell International by 467.0% in the second quarter. New England Asset Management Inc. now owns 3,260 shares of the conglomerate’s stock worth $470,000 after buying an additional 2,685 shares during the period. Institutional investors own 71.16% of the company’s stock.
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About Honeywell International (NYSE:HON)
Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.
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