Steward Partners Investment Advisory LLC bought a new stake in shares of Honeywell International Inc. (NYSE:HON) during the third quarter, HoldingsChannel.com reports. The fund bought 17,002 shares of the conglomerate’s stock, valued at approximately $2,409,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of HON. Janus Henderson Group PLC increased its position in Honeywell International by 4,986.7% during the 2nd quarter. Janus Henderson Group PLC now owns 4,395,092 shares of the conglomerate’s stock valued at $585,822,000 after purchasing an additional 4,308,688 shares during the period. Ameriprise Financial Inc. increased its position in Honeywell International by 38.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock valued at $1,776,394,000 after purchasing an additional 3,728,533 shares during the period. Vanguard Group Inc. increased its position in Honeywell International by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock valued at $6,626,247,000 after purchasing an additional 1,234,672 shares during the period. BlackRock Inc. increased its position in Honeywell International by 2.8% during the 2nd quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock valued at $6,003,117,000 after purchasing an additional 1,207,893 shares during the period. Finally, Bain Capital Public Equity Management LLC purchased a new position in Honeywell International during the 2nd quarter valued at about $151,186,000. 76.52% of the stock is currently owned by institutional investors and hedge funds.
HON has been the topic of a number of research reports. Argus raised their target price on shares of Honeywell International from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Vertical Research reissued a “buy” rating on shares of Honeywell International in a research report on Friday, October 20th. Cowen reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Honeywell International in a research report on Thursday, October 19th. Deutsche Bank reaffirmed a “buy” rating and issued a $171.00 price objective on shares of Honeywell International in a research report on Tuesday, November 28th. Finally, Jefferies Group lifted their price objective on shares of Honeywell International from $162.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $163.93.
Honeywell International (NYSE:HON) last issued its quarterly earnings data on Friday, January 26th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.01. Honeywell International had a net margin of 4.08% and a return on equity of 27.27%. The firm had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the previous year, the firm earned $1.74 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. research analysts forecast that Honeywell International Inc. will post 7.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be paid a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 2.04%. Honeywell International’s dividend payout ratio (DPR) is presently 143.27%.
Honeywell International announced that its board has approved a share repurchase program on Friday, December 8th that authorizes the company to repurchase $6.50 billion in shares. This repurchase authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are 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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