Columbia Asset Management lifted its holdings in shares of Honeywell International Inc. (NYSE:HON) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,205 shares of the conglomerate’s stock after acquiring an additional 1,145 shares during the quarter. Columbia Asset Management’s holdings in Honeywell International were worth $2,580,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Honeywell International by 2.5% in the second quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock worth $6,626,247,000 after purchasing an additional 1,234,672 shares in the last quarter. BlackRock Inc. grew its stake in Honeywell International by 2.8% in the second quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock worth $6,003,117,000 after purchasing an additional 1,207,893 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Honeywell International by 38.9% in the second quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock worth $1,776,394,000 after purchasing an additional 3,728,533 shares in the last quarter. FMR LLC grew its stake in Honeywell International by 9.3% in the second quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock worth $1,120,396,000 after purchasing an additional 714,881 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Honeywell International by 9.1% in the second quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock worth $1,005,003,000 after purchasing an additional 629,221 shares in the last quarter. 76.30% of the stock is currently owned by institutional investors and hedge funds.
HON has been the subject of a number of research reports. Zacks Investment Research upgraded Honeywell International from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research note on Thursday, September 21st. Deutsche Bank reiterated a “buy” rating and issued a $171.00 price target on shares of Honeywell International in a research note on Tuesday, November 28th. Royal Bank of Canada lifted their price target on Honeywell International from $148.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, October 23rd. Citigroup lifted their price target on Honeywell International from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Finally, Oppenheimer lifted their price target on Honeywell International from $155.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $160.14.
Honeywell International (NYSE:HON) last issued its earnings results on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.75. Honeywell International had a return on equity of 26.26% and a net margin of 12.85%. The company had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $10.05 billion. During the same period in the previous year, the firm posted $1.60 earnings per share. Honeywell International’s quarterly revenue was up 3.2% compared to the same quarter last year. equities research analysts predict that Honeywell International Inc. will post 7.1 EPS for the current year.
Honeywell International announced that its board has authorized a share buyback plan on Friday, December 8th that allows the company to buyback $6.50 billion in outstanding shares. This buyback authorization allows the conglomerate to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other Honeywell International news, VP Krishna Mikkilineni sold 13,074 shares of Honeywell International stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $145.12, for a total value of $1,897,298.88. Following the completion of the transaction, the vice president now directly owns 104,998 shares in the company, valued at $15,237,309.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bradley T. Sheares sold 1,328 shares of Honeywell International 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 completion of the transaction, the director now owns 4,002 shares of the company’s stock, valued at $585,932.82. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.
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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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