AlTi Global Inc. Grows Holdings in Honeywell International Inc. $HON

AlTi Global Inc. grew its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 2.0% in the second quarter, HoldingsChannel reports. The fund owned 16,987 shares of the conglomerate’s stock after buying an additional 337 shares during the quarter. AlTi Global Inc.’s holdings in Honeywell International were worth $3,957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Honeywell International by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate’s stock valued at $13,172,852,000 after acquiring an additional 447,744 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Honeywell International by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock valued at $3,335,476,000 after acquiring an additional 1,293,137 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Honeywell International by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate’s stock valued at $1,278,563,000 after acquiring an additional 505,083 shares during the last quarter. Invesco Ltd. increased its stake in shares of Honeywell International by 5.4% during the 1st quarter. Invesco Ltd. now owns 5,568,610 shares of the conglomerate’s stock valued at $1,179,153,000 after acquiring an additional 283,193 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Honeywell International during the 1st quarter valued at about $1,150,929,000. Institutional investors and hedge funds own 75.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HON shares. Robert W. Baird dropped their target price on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Morgan Stanley increased their target price on shares of Honeywell International from $225.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. JPMorgan Chase & Co. dropped their target price on shares of Honeywell International from $222.00 to $212.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Honeywell International from $268.00 to $271.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Honeywell International in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $251.67.

Honeywell International Stock Up 6.8%

NASDAQ HON opened at $220.67 on Friday. The stock has a market cap of $140.10 billion, a PE ratio of 25.10, a P/E/G ratio of 2.56 and a beta of 1.06. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77. The business has a 50 day moving average price of $212.05 and a two-hundred day moving average price of $217.19. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81.

Honeywell International (NASDAQ:HON) last released its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. The firm had revenue of $8.95 billion during the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. 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, sell-side analysts predict that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.19 per share. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date is Friday, November 14th. This represents a $4.76 annualized dividend and a dividend yield of 2.2%. Honeywell International’s dividend payout ratio (DPR) is currently 54.15%.

Insider Activity at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the transaction, the chief executive officer directly owned 10,334 shares in the company, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Honeywell International 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.