Verition Fund Management LLC grew its stake in shares of Honeywell International Inc. (NYSE:HON) by 20.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,100 shares of the conglomerate’s stock after purchasing an additional 1,749 shares during the quarter. Verition Fund Management LLC’s holdings in Honeywell International were worth $2,192,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in HON. BlackRock Inc. lifted its stake in Honeywell International by 2.0% in the first quarter. BlackRock Inc. now owns 43,674,802 shares of the conglomerate’s stock worth $9,480,489,000 after acquiring an additional 839,066 shares during the period. Alliancebernstein L.P. lifted its stake in Honeywell International by 28.2% in the first quarter. Alliancebernstein L.P. now owns 3,771,775 shares of the conglomerate’s stock worth $818,739,000 after acquiring an additional 829,207 shares during the period. Capital International Investors lifted its stake in Honeywell International by 11.7% in the first quarter. Capital International Investors now owns 7,850,768 shares of the conglomerate’s stock worth $1,704,272,000 after acquiring an additional 824,893 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Honeywell International by 4.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,204,199 shares of the conglomerate’s stock worth $2,167,460,000 after purchasing an additional 477,569 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in Honeywell International by 16.8% in the first quarter. UBS Asset Management Americas Inc. now owns 2,863,177 shares of the conglomerate’s stock worth $621,510,000 after purchasing an additional 412,313 shares in the last quarter. 75.93% of the stock is owned by institutional investors.
In other Honeywell International news, VP Anne T. Madden sold 8,885 shares of the firm’s stock in a transaction dated Thursday, April 29th. The stock was sold at an average price of $223.22, for a total value of $1,983,309.70. Following the transaction, the vice president now directly owns 50,658 shares of the company’s stock, valued at $11,307,878.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.44% of the company’s stock.
Honeywell International (NYSE:HON) last announced its earnings results on Thursday, April 22nd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.12. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Honeywell International had a return on equity of 26.51% and a net margin of 14.18%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the firm posted $2.21 earnings per share. As a group, research analysts anticipate that Honeywell International Inc. will post 8.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 4th. Shareholders of record on Friday, May 14th were given a $0.93 dividend. The ex-dividend date was Thursday, May 13th. This represents a $3.72 annualized dividend and a yield of 1.60%. Honeywell International’s payout ratio is 52.39%.
HON has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on Honeywell International from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, April 9th. Barclays increased their price objective on Honeywell International from $230.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, April 26th. Credit Suisse Group increased their price objective on Honeywell International from $224.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, April 26th. Morgan Stanley raised their price target on Honeywell International from $230.00 to $246.00 and gave the company an “equal weight” rating in a report on Monday, April 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Honeywell International from $246.00 to $245.00 and set a “buy” rating for the company in a report on Wednesday, July 14th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $221.07.
Honeywell International Profile
Honeywell International, Inc is a software industrial company, which offers industry specific solutions to aerospace and automotive products and services. It specializes in turbochargers control, sensing and security technologies for buildings and homes; specialty chemicals; electronic and advanced materials; process technology for refining and petrochemicals; and energy efficient products and solutions for homes, business and transportation.
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