FormulaFolio Investments LLC Takes $759,000 Position in Honeywell International Inc. (HON)
FormulaFolio Investments LLC acquired a new position in shares of Honeywell International Inc. (NYSE:HON) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,354 shares of the conglomerate’s stock, valued at approximately $759,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in Honeywell International by 4,986.7% in 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. boosted its holdings in Honeywell International by 38.9% in 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. Harbour Capital Advisors LLC boosted its holdings in Honeywell International by 13,551.7% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,804,613 shares of the conglomerate’s stock valued at $13,539,000 after purchasing an additional 1,791,394 shares during the period. Vanguard Group Inc. boosted its holdings in Honeywell International by 2.5% in 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. Finally, BlackRock Inc. boosted its holdings in Honeywell International by 2.8% in 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. 76.04% of the stock is owned by institutional investors and hedge funds.
Shares of Honeywell International Inc. (NYSE:HON) opened at $154.25 on Monday. The stock has a market cap of $116,647.13, a PE ratio of 22.18, a P/E/G ratio of 2.35 and a beta of 0.99. The company has a current ratio of 1.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54. Honeywell International Inc. has a 1 year low of $113.60 and a 1 year high of $156.70.
Honeywell International (NYSE:HON) last announced its earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.75. The business had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $1.60 EPS. analysts expect that Honeywell International Inc. will post 7.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were given a dividend of $0.745 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.98 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Honeywell International’s previous quarterly dividend of $0.67. Honeywell International’s dividend payout ratio (DPR) is 45.15%.
Honeywell International announced that its board has authorized 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 generally a sign that the company’s management believes its stock is undervalued.
A number of analysts have weighed in on HON shares. Zacks Investment Research raised shares of Honeywell International from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a report on Thursday, September 21st. Deutsche Bank reissued a “buy” rating and issued a $171.00 price target on shares of Honeywell International in a report on Tuesday, November 28th. Royal Bank of Canada increased their price target on shares of Honeywell International from $148.00 to $156.00 and gave the company an “outperform” rating in a report on Monday, October 23rd. Citigroup raised their price objective on shares of Honeywell International from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, October 9th. Finally, Vertical Research reaffirmed a “buy” rating on shares of Honeywell International in a report on Friday, October 20th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Honeywell International currently has an average rating of “Buy” and an average target price of $159.79.
In related news, Director Bradley T. Sheares sold 1,328 shares of the stock in a transaction dated 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 sale, the director now owns 4,002 shares in the company, valued at approximately $585,932.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Krishna Mikkilineni sold 13,074 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the sale, the vice president now owns 104,998 shares of the company’s stock, valued at approximately $15,237,309.76. The disclosure for this sale can be found here. Company insiders own 1.56% of the company’s stock.
Honeywell International 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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