Quantum Private Wealth LLC Grows Position in Honeywell International Inc. $HON

Quantum Private Wealth LLC grew its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 37.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,311 shares of the conglomerate’s stock after purchasing an additional 1,980 shares during the period. Quantum Private Wealth LLC’s holdings in Honeywell International were worth $1,703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chung Wu Investment Group LLC acquired a new stake in shares of Honeywell International in the second quarter valued at about $26,000. Pandora Wealth Inc. acquired a new position in Honeywell International during the first quarter worth about $33,000. RMG Wealth Management LLC purchased a new position in Honeywell International in the second quarter valued at about $33,000. Activest Wealth Management lifted its position in shares of Honeywell International by 425.9% during the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after acquiring an additional 115 shares during the period. Finally, 1248 Management LLC purchased a new stake in shares of Honeywell International during the 1st quarter worth approximately $38,000. 75.91% of the stock is owned by institutional investors and hedge funds.

Honeywell International Stock Up 1.0%

Shares of NASDAQ:HON opened at $190.02 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. Honeywell International Inc. has a 52-week low of $169.21 and a 52-week high of $228.04. The stock’s fifty day simple moving average is $204.74 and its 200-day simple moving average is $217.37. The company has a market capitalization of $120.64 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.73 and a beta of 1.07.

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

Honeywell International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a dividend yield of 2.5%. Honeywell International’s payout ratio is currently 50.16%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Robert W. Baird dropped their price objective on Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Morgan Stanley lowered their target price on Honeywell International from $245.00 to $235.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 28th. HSBC dropped their price target on Honeywell International from $290.00 to $266.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Rothschild & Co Redburn decreased their price objective on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Royal Bank Of Canada raised shares of Honeywell International from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $235.00 to $253.00 in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.38.

Insider Activity

In related news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were 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. This trade represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.