Bedel Financial Consulting Inc. Buys New Position in Honeywell International Inc. (HON)
Bedel Financial Consulting Inc. bought a new stake in shares of Honeywell International Inc. (NYSE:HON) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 8,023 shares of the conglomerate’s stock, valued at approximately $1,230,000. Honeywell International comprises about 1.1% of Bedel Financial Consulting Inc.’s investment portfolio, making the stock its 17th largest holding.
A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Honeywell International by 2.5% during the second 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 last quarter. BlackRock Inc. grew its position in shares of Honeywell International by 2.8% during the second quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock worth $6,003,117,000 after acquiring an additional 1,207,893 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Honeywell International by 1.6% during the third quarter. Ameriprise Financial Inc. now owns 13,530,401 shares of the conglomerate’s stock worth $1,918,100,000 after acquiring an additional 207,142 shares during the last quarter. FMR LLC grew its position in shares of Honeywell International by 9.3% during the second quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock worth $1,120,396,000 after acquiring an additional 714,881 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Honeywell International by 9.1% during the second quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock worth $1,005,003,000 after acquiring an additional 629,221 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.
HON has been the subject of several recent research reports. Deutsche Bank restated a “buy” rating and set a $171.00 price target on shares of Honeywell International in a research report on Tuesday, November 28th. Zacks Investment Research lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Citigroup set a $180.00 price target on shares of Honeywell International and gave the stock a “buy” rating in a research report on Thursday, December 14th. Stifel Nicolaus lowered their price target on shares of Honeywell International from $171.00 to $169.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Finally, Oppenheimer upped their price target on shares of Honeywell International from $155.00 to $168.00 and gave the stock an “outperform” 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 company. The stock has a consensus rating of “Buy” and a consensus target price of $165.67.
Shares of Honeywell International stock opened at $151.78 on Monday. The firm has a market cap of $114,138.87, a PE ratio of 72.97, a P/E/G ratio of 2.14 and a beta of 0.98. Honeywell International Inc. has a 1-year low of $122.40 and a 1-year high of $165.13. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.13.
Honeywell International (NYSE:HON) last posted its quarterly earnings data on Friday, January 26th. The conglomerate reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.01. The business had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.80 billion. Honeywell International had a net margin of 4.08% and a return on equity of 27.27%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.74 earnings per share. analysts forecast that Honeywell International Inc. will post 7.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were issued a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 1.96%. The ex-dividend date was Thursday, February 22nd. Honeywell International’s payout ratio is currently 143.27%.
Honeywell International announced that its board has authorized a stock repurchase program 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. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is 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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