13,414 Shares in Honeywell International Inc. (HON) Acquired by Beaton Management Co. Inc.
Beaton Management Co. Inc. purchased a new stake in shares of Honeywell International Inc. (NYSE:HON) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,414 shares of the conglomerate’s stock, valued at approximately $1,788,000. Honeywell International accounts for approximately 1.8% of Beaton Management Co. Inc.’s holdings, making the stock its 16th biggest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd raised its position in Honeywell International by 102.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 5,643 shares of the conglomerate’s stock valued at $752,000 after purchasing an additional 2,858 shares during the period. WINTON GROUP Ltd raised its position in Honeywell International by 35.1% in the second quarter. WINTON GROUP Ltd now owns 27,509 shares of the conglomerate’s stock valued at $3,667,000 after purchasing an additional 7,141 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in Honeywell International in the second quarter valued at approximately $393,000. Millie Capital Management LLC raised its position in Honeywell International by 5.9% in the second quarter. Millie Capital Management LLC now owns 11,717 shares of the conglomerate’s stock valued at $1,562,000 after purchasing an additional 654 shares during the period. Finally, Schafer Cullen Capital Management Inc. raised its position in Honeywell International by 7.1% in the second quarter. Schafer Cullen Capital Management Inc. now owns 220,703 shares of the conglomerate’s stock valued at $29,418,000 after purchasing an additional 14,635 shares during the period. 76.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Honeywell International Inc. (HON) traded up $2.06 during mid-day trading on Thursday, hitting $155.80. 5,064,100 shares of the company were exchanged, compared to its average volume of 2,719,647. The company has a current ratio of 1.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $116,323.64, a P/E ratio of 22.11, a P/E/G ratio of 2.36 and a beta of 0.99. Honeywell International Inc. has a 12-month low of $113.60 and a 12-month high of $156.70.
Honeywell International (NYSE:HON) last issued its earnings results on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, hitting analysts’ consensus estimates of $1.75. The firm had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 earnings per share. equities analysts expect that Honeywell International Inc. will post 7.06 earnings per share for the current fiscal year.
Honeywell International declared that its board has initiated a stock repurchase plan on Friday, December 8th that authorizes the company to repurchase $6.50 billion in shares. This repurchase authorization authorizes the conglomerate to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were paid a dividend of $0.745 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.98 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from Honeywell International’s previous quarterly dividend of $0.67. Honeywell International’s payout ratio is presently 45.15%.
In other Honeywell International news, VP Krishna Mikkilineni sold 13,074 shares of the company’s 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 completion of the transaction, the vice president now owns 104,998 shares in the company, valued at $15,237,309.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradley T. Sheares sold 1,328 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were 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 owns 4,002 shares of the company’s stock, valued at approximately $585,932.82. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.
A number of research firms have recently weighed in on HON. Citigroup set a $180.00 price objective on Honeywell International and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus cut their price objective on Honeywell International from $171.00 to $169.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer upped their price objective on Honeywell International from $155.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday. Jefferies Group upped their price objective on Honeywell International from $162.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of Honeywell International in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Honeywell International currently has a consensus rating of “Buy” and a consensus price target of $159.29.
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About Honeywell International
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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