Honeywell International Inc. $HON Shares Acquired by Summit Asset Management LLC

Summit Asset Management LLC increased its holdings in Honeywell International Inc. (NASDAQ:HON) by 3.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,716 shares of the conglomerate’s stock after purchasing an additional 286 shares during the quarter. Summit Asset Management LLC’s holdings in Honeywell International were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Midwest Trust Co acquired a new position in Honeywell International during the 2nd quarter worth $43,516,000. LFA Lugano Financial Advisors SA raised its stake in shares of Honeywell International by 12.0% during the second quarter. LFA Lugano Financial Advisors SA now owns 932 shares of the conglomerate’s stock valued at $217,000 after purchasing an additional 100 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Honeywell International by 215.5% during the second quarter. Acadian Asset Management LLC now owns 13,984 shares of the conglomerate’s stock valued at $3,255,000 after purchasing an additional 9,551 shares in the last quarter. CSM Advisors LLC lifted its holdings in Honeywell International by 1.3% in the second quarter. CSM Advisors LLC now owns 56,807 shares of the conglomerate’s stock worth $13,229,000 after purchasing an additional 735 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Honeywell International by 305.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 133,134 shares of the conglomerate’s stock valued at $31,004,000 after buying an additional 100,325 shares in the last quarter. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HON shares. Citigroup boosted their price target on shares of Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Jefferies Financial Group dropped their target price on Honeywell International from $230.00 to $220.00 in a report on Monday, November 3rd. Robert W. Baird cut their target price on Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Morgan Stanley lowered their price target on Honeywell International from $245.00 to $235.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 28th. Finally, Rothschild & Co Redburn cut their price objective on Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Honeywell International has a consensus rating of “Moderate Buy” and an average target price of $249.63.

Honeywell International Trading Down 0.9%

Honeywell International stock opened at $194.07 on Friday. The firm has a market cap of $123.21 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. Honeywell International Inc. has a 1 year low of $179.36 and a 1 year high of $242.77. The firm’s 50 day moving average price is $208.63 and its two-hundred day moving average price is $218.18. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The company had revenue of $8.95 billion during the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. On average, research analysts predict that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be paid a $1.19 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a yield of 2.5%. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s dividend payout ratio (DPR) is 50.16%.

Insider Transactions at Honeywell International

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the sale, the chief executive officer owned 10,334 shares in the company, valued at approximately $2,289,807.72. The trade was a 80.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Honeywell International Company Profile

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company’s Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.