Assetmark Inc. Boosts Stake in Honeywell International Inc. (NASDAQ:HON)

Assetmark Inc. grew its stake in Honeywell International Inc. (NASDAQ:HON) by 60.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 22,492 shares of the conglomerate’s stock after buying an additional 8,455 shares during the period. Assetmark Inc.’s holdings in Honeywell International were worth $4,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Avantax Advisory Services Inc. raised its holdings in shares of Honeywell International by 6.4% in the first quarter. Avantax Advisory Services Inc. now owns 60,583 shares of the conglomerate’s stock worth $12,828,000 after buying an additional 3,662 shares during the last quarter. Brookwood Investment Group LLC purchased a new position in shares of Honeywell International during the first quarter worth $260,000. Hamel Associates Inc. raised its holdings in shares of Honeywell International by 1.0% during the first quarter. Hamel Associates Inc. now owns 26,578 shares of the conglomerate’s stock worth $5,628,000 after purchasing an additional 270 shares during the last quarter. Principle Wealth Partners LLC raised its holdings in shares of Honeywell International by 0.4% during the first quarter. Principle Wealth Partners LLC now owns 16,259 shares of the conglomerate’s stock worth $3,443,000 after purchasing an additional 65 shares during the last quarter. Finally, Advisor OS LLC raised its holdings in shares of Honeywell International by 12.3% during the first quarter. Advisor OS LLC now owns 1,491 shares of the conglomerate’s stock worth $316,000 after purchasing an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HON shares. Citigroup upped their target price on Honeywell International from $242.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Mizuho upped their target price on Honeywell International from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Barclays upped their target price on Honeywell International from $258.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded Honeywell International from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Finally, Bank of America upgraded Honeywell International from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $254.00.

Honeywell International Stock Up 0.4%

Shares of HON opened at $225.08 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77. The stock’s 50 day moving average is $229.42 and its two-hundred day moving average is $216.99. The firm has a market cap of $144.65 billion, a P/E ratio of 25.61, a PEG ratio of 2.52 and a beta of 1.07.

Honeywell International (NASDAQ:HON) last released its earnings results on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. The business had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.01 billion. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.49 earnings per share. Analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.01%. Honeywell International’s payout ratio is currently 51.42%.

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.