Sit Investment Associates Inc. Has $39.49 Million Stake in Honeywell International Inc. (HON)
Sit Investment Associates Inc. cut its holdings in shares of Honeywell International Inc. (NYSE:HON) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 257,515 shares of the conglomerate’s stock after selling 5,105 shares during the period. Honeywell International comprises approximately 0.9% of Sit Investment Associates Inc.’s holdings, making the stock its 21st biggest position. Sit Investment Associates Inc.’s holdings in Honeywell International were worth $39,493,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of the company. Chesley Taft & Associates LLC grew its position in shares of Honeywell International by 0.6% during the 4th quarter. Chesley Taft & Associates LLC now owns 153,609 shares of the conglomerate’s stock valued at $23,557,000 after acquiring an additional 920 shares during the period. Abner Herrman & Brock LLC grew its position in shares of Honeywell International by 1.2% during the 4th quarter. Abner Herrman & Brock LLC now owns 85,419 shares of the conglomerate’s stock valued at $13,100,000 after acquiring an additional 1,014 shares during the period. Neville Rodie & Shaw Inc. grew its position in shares of Honeywell International by 2.5% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 54,833 shares of the conglomerate’s stock valued at $8,409,000 after acquiring an additional 1,338 shares during the period. Prudential Financial Inc. grew its position in shares of Honeywell International by 22.6% during the 3rd quarter. Prudential Financial Inc. now owns 2,267,295 shares of the conglomerate’s stock valued at $321,367,000 after acquiring an additional 417,770 shares during the period. Finally, Atlantic Trust Group LLC grew its position in shares of Honeywell International by 26.5% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,097,728 shares of the conglomerate’s stock valued at $155,592,000 after acquiring an additional 230,298 shares during the period. Hedge funds and other institutional investors own 76.52% of the company’s stock.
HON has been the topic of several research analyst reports. Deutsche Bank reiterated a “buy” rating and issued a $171.00 price objective on shares of Honeywell International in a report on Tuesday, November 28th. Royal Bank of Canada lifted their price objective on Honeywell International from $148.00 to $156.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Zacks Investment Research cut Honeywell International from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Citigroup set a $180.00 price objective on Honeywell International and gave the stock a “buy” rating in a report on Thursday, December 14th. Finally, Oppenheimer lifted their price objective on Honeywell International from $155.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, December 14th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $163.93.
Honeywell International (NYSE:HON) last issued its earnings results on Friday, January 26th. The conglomerate reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.01. The business had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Honeywell International had a return on equity of 27.27% and a net margin of 4.08%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 EPS. research analysts predict that Honeywell International Inc. will post 7.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, February 22nd. Honeywell International’s dividend payout ratio is currently 143.27%.
Honeywell International declared that its Board of Directors has authorized a stock buyback program on Friday, December 8th that authorizes the company to buyback $6.50 billion in outstanding shares. This buyback authorization authorizes the conglomerate to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
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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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