Loeb Partners Corp Invests $1.55 Million in Honeywell International Inc. (HON)
Loeb Partners Corp purchased a new position in Honeywell International Inc. (NYSE:HON) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,600 shares of the conglomerate’s stock, valued at approximately $1,546,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC boosted its stake in shares of 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 worth $13,539,000 after buying an additional 1,791,394 shares during the last quarter. IBM Retirement Fund boosted its stake in shares of Honeywell International by 73.1% in the 2nd quarter. IBM Retirement Fund now owns 18,640 shares of the conglomerate’s stock worth $2,777,000 after buying an additional 7,870 shares during the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of Honeywell International by 4.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 31,725 shares of the conglomerate’s stock worth $4,229,000 after buying an additional 1,338 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Honeywell International by 1.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 47,050 shares of the conglomerate’s stock worth $6,272,000 after buying an additional 660 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in shares of Honeywell International by 8.5% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 373,596 shares of the conglomerate’s stock worth $49,797,000 after buying an additional 29,398 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.
HON has been the topic of a number of recent research reports. Zacks Investment Research raised Honeywell International from a “hold” rating to a “buy” rating and set a $151.00 target price on the stock in a report on Thursday, July 20th. BidaskClub cut Honeywell International from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $155.00 target price on shares of Honeywell International in a report on Tuesday, August 22nd. Royal Bank Of Canada raised their target price on Honeywell International from $145.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $141.00 target price (up from $137.00) on shares of Honeywell International in a report on Thursday, June 22nd. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $142.22.
In related news, VP Jennifer H. Mak sold 420 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $136.66, for a total transaction of $57,397.20. Following the completion of the transaction, the vice president now owns 1,363 shares in the company, valued at approximately $186,267.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rajeev Gautam sold 5,840 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $136.68, for a total transaction of $798,211.20. Following the transaction, the insider now owns 16,597 shares of the company’s stock, valued at approximately $2,268,477.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 354,108 shares of company stock worth $48,886,463. Corporate insiders own 1.56% of the company’s stock.
Shares of Honeywell International Inc. (HON) opened at 141.75 on Friday. The stock has a 50 day moving average price of $137.60 and a 200 day moving average price of $132.42. Honeywell International Inc. has a one year low of $105.25 and a one year high of $142.06. The company has a market capitalization of $107.81 billion, a PE ratio of 21.98 and a beta of 0.94.
Honeywell International (NYSE:HON) last posted its earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.02. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The business had revenue of $10.08 billion for the quarter, compared to analyst estimates of $9.89 billion. During the same period in the prior year, the company posted $1.70 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts predict that Honeywell International Inc. will post $7.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Wednesday, August 16th. Honeywell International’s payout ratio is currently 41.24%.
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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