Townsend & Associates Inc Takes $202,000 Position in Honeywell International Inc. $HON

Townsend & Associates Inc purchased a new stake in shares of Honeywell International Inc. (NASDAQ:HON) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 900 shares of the conglomerate’s stock, valued at approximately $202,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in shares of Honeywell International by 9.1% in the 4th quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate’s stock valued at $4,302,000 after purchasing an additional 1,582 shares during the last quarter. Advisor Resource Council acquired a new position in Honeywell International in the first quarter valued at about $695,000. Garde Capital Inc. purchased a new position in Honeywell International during the first quarter worth about $42,000. Intact Investment Management Inc. increased its position in shares of Honeywell International by 115.1% during the first quarter. Intact Investment Management Inc. now owns 31,400 shares of the conglomerate’s stock valued at $6,649,000 after acquiring an additional 16,800 shares during the last quarter. Finally, Running Oak Capital LLC raised its stake in shares of Honeywell International by 13.9% in the 1st quarter. Running Oak Capital LLC now owns 71,273 shares of the conglomerate’s stock valued at $15,092,000 after acquiring an additional 8,719 shares during the period. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Stock Down 0.1%

HON stock opened at $202.96 on Monday. The company’s 50 day moving average price is $212.63 and its 200 day moving average price is $216.98. The firm has a market capitalization of $128.86 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.52 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 company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The company 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. On average, equities research analysts anticipate that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a dividend of $1.19 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a yield of 2.3%. Honeywell International’s dividend payout ratio (DPR) is presently 51.42%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of Honeywell International from $258.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. dropped their price objective on Honeywell International from $222.00 to $212.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Robert W. Baird lowered their target price on Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Royal Bank Of Canada dropped their target price on Honeywell International from $254.00 to $253.00 and set a “sector perform” rating for the company in a research report on Friday, July 25th. Finally, Wells Fargo & Company reduced their price target on shares of Honeywell International from $230.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $251.67.

Insider Activity

In other news, CEO Lucian Boldea sold 42,149 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.41% of the company’s stock.

About Honeywell International

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.