Wendell David Associates Inc. Invests $1.75 Million in Honeywell International Inc. (HON)
Wendell David Associates Inc. bought a new position in shares of Honeywell International Inc. (NYSE:HON) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,358 shares of the conglomerate’s stock, valued at approximately $1,752,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hanson McClain Inc. lifted its holdings in shares of Honeywell International by 0.4% during the first quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock worth $101,000 after purchasing an additional 3 shares during the period. Burt Wealth Advisors lifted its holdings in Honeywell International by 65.4% in the second quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock valued at $101,000 after buying an additional 300 shares during the period. Guidant Wealth Advisors lifted its holdings in Honeywell International by 15.8% in the second quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock valued at $102,000 after buying an additional 104 shares during the period. Mosaic Family Wealth LLC lifted its holdings in Honeywell International by 11.4% in the second quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock valued at $102,000 after buying an additional 78 shares during the period. Finally, CKW Financial Group acquired a new position in Honeywell International in the second quarter valued at $108,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on HON shares. Royal Bank of Canada upped their price objective on shares of Honeywell International to $163.00 and gave the company an “outperform” rating in a report on Thursday, December 14th. Jefferies Group boosted their target price on shares of Honeywell International from $162.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Oppenheimer boosted their target price on shares of Honeywell International from $155.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, December 14th. Stifel Nicolaus decreased their target price on shares of Honeywell International from $171.00 to $169.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Finally, Citigroup set a $180.00 price objective on shares of Honeywell International and gave the stock a “buy” rating in a research report on Thursday, December 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Honeywell International has a consensus rating of “Buy” and a consensus target price of $159.79.
Honeywell International (NYSE:HON) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.75. The firm had revenue of $10.12 billion for the quarter, compared to analyst estimates of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 EPS. equities analysts anticipate that Honeywell International Inc. will post 7.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 17th were issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, November 16th. This is a positive change from Honeywell International’s previous quarterly dividend of $0.67. Honeywell International’s dividend payout ratio (DPR) is 45.15%.
Honeywell International declared that its Board of Directors has authorized a stock repurchase plan on Friday, December 8th that permits the company to buyback $6.50 billion in outstanding shares. This buyback authorization permits the conglomerate to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, VP Krishna Mikkilineni sold 13,074 shares of Honeywell International stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total value of $1,897,298.88. Following the completion of the sale, the vice president now directly owns 104,998 shares in the company, valued at $15,237,309.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradley T. Sheares sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $146.41, for a total transaction of $194,432.48. Following the sale, the director now owns 4,002 shares of the company’s stock, valued at $585,932.82. The disclosure for this sale can be found here. 1.56% of the stock is owned by company insiders.
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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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