Crossmark Global Holdings Inc. bought a new position in shares of Honeywell International Inc. (NYSE:HON) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 117,302 shares of the conglomerate’s stock, valued at approximately $16,626,000.
Several other large investors also recently modified their holdings of the company. Lyell Wealth Management LP increased its position in shares of Honeywell International by 3.3% during the third quarter. Lyell Wealth Management LP now owns 27,418 shares of the conglomerate’s stock worth $3,886,000 after acquiring an additional 875 shares during the period. Glenview State Bank Trust DEPT. increased its position in shares of Honeywell International by 56.9% during the third quarter. Glenview State Bank Trust DEPT. now owns 2,675 shares of the conglomerate’s stock worth $379,000 after acquiring an additional 970 shares during the period. Well Done LLC purchased a new position in shares of Honeywell International during the third quarter worth approximately $237,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Honeywell International by 9.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 158,055 shares of the conglomerate’s stock worth $22,404,000 after acquiring an additional 13,357 shares during the period. Finally, Palisade Asset Management LLC increased its position in shares of Honeywell International by 17.4% during the third quarter. Palisade Asset Management LLC now owns 20,878 shares of the conglomerate’s stock worth $2,959,000 after acquiring an additional 3,100 shares during the period. 76.29% of the stock is currently owned by institutional investors and hedge funds.
Honeywell International Inc. (NYSE HON) opened at $153.76 on Wednesday. The stock has a market cap of $116,162.83, a P/E ratio of 23.30, a P/E/G ratio of 2.55 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 1.35. Honeywell International Inc. has a 1-year low of $115.42 and a 1-year high of $156.70.
Honeywell International declared that its board has initiated a stock buyback program on Friday, December 8th that permits the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization permits the conglomerate to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 17th were issued a $0.745 dividend. This is a positive change from Honeywell International’s previous quarterly dividend of $0.67. This represents a $2.98 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 16th. Honeywell International’s payout ratio is currently 45.15%.
In other Honeywell International news, VP Krishna Mikkilineni sold 13,074 shares of Honeywell International 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 transaction, the vice president now directly owns 104,998 shares of the company’s stock, valued at $15,237,309.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradley T. Sheares sold 1,328 shares of Honeywell International stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $146.41, for a total transaction of $194,432.48. Following the completion of the transaction, the director now directly owns 4,002 shares in the company, valued at $585,932.82. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the stock. Citigroup set a $180.00 target price on shares of Honeywell International and gave the stock a “buy” rating in a research report on Thursday, December 14th. Stifel Nicolaus reduced their target price on shares of Honeywell International from $171.00 to $169.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Oppenheimer lifted their price objective 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. Jefferies Group lifted their price objective on shares of Honeywell International from $162.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, Royal Bank of Canada lifted their price objective on shares of Honeywell International to $163.00 and gave the company an “outperform” rating in a report on Thursday, December 14th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $160.50.
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Honeywell International 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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