Russell Investments Group Ltd. Acquires 56,496 Shares of Honeywell International Inc. $HON

Russell Investments Group Ltd. increased its stake in Honeywell International Inc. (NASDAQ:HON) by 16.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 396,504 shares of the conglomerate’s stock after acquiring an additional 56,496 shares during the quarter. Russell Investments Group Ltd.’s holdings in Honeywell International were worth $92,315,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of HON. Chung Wu Investment Group LLC acquired a new stake in shares of Honeywell International during the 2nd quarter worth approximately $26,000. Pandora Wealth Inc. bought a new position in shares of Honeywell International in the first quarter valued at $33,000. RMG Wealth Management LLC acquired a new position in Honeywell International during the 2nd quarter valued at about $33,000. Activest Wealth Management boosted its position in shares of Honeywell International by 425.9% during the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Finally, 1248 Management LLC purchased a new position in Honeywell International during the 1st quarter worth $38,000. Institutional investors and hedge funds own 75.91% of the company’s stock.

Honeywell International Price Performance

Shares of Honeywell International stock opened at $189.99 on Thursday. The business has a 50 day moving average of $203.44 and a 200 day moving average of $216.87. Honeywell International Inc. has a 52 week low of $169.21 and a 52 week high of $228.04. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. The company has a market cap of $120.62 billion, a PE ratio of 20.02, a P/E/G ratio of 2.73 and a beta of 1.07.

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. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The company had revenue of $8.95 billion for 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. As a group, equities research analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, November 14th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s dividend payout ratio is 50.16%.

Analyst Ratings Changes

A number of research analysts have issued reports on HON shares. HSBC reduced their price objective on Honeywell International from $290.00 to $266.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Jefferies Financial Group reduced their price objective on shares of Honeywell International from $230.00 to $220.00 in a research note on Monday, November 3rd. Rothschild & Co Redburn reduced their target price on Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Barclays boosted their price target on shares of Honeywell International from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Honeywell International in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Honeywell International presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.38.

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.