Honeywell International Inc. $HON Shares Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC lifted its holdings in Honeywell International Inc. (NASDAQ:HON) by 20.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 49,100 shares of the conglomerate’s stock after buying an additional 8,500 shares during the quarter. Cornerstone Advisors LLC’s holdings in Honeywell International were worth $11,434,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were 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 owned 10,334 shares in the company, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of Honeywell International from $250.00 to $240.00 and set a “buy” rating for the company in a report on Monday, November 10th. Barclays boosted their target price on shares of Honeywell International from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Jefferies Financial Group dropped their price target on shares of Honeywell International from $230.00 to $220.00 in a research note on Monday, November 3rd. Royal Bank Of Canada upgraded Honeywell International from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $235.00 to $253.00 in a research report on Monday, October 27th. Finally, HSBC lowered their target price on Honeywell International from $290.00 to $266.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $242.19.

Honeywell International Stock Performance

HON opened at $199.04 on Friday. The business has a 50 day moving average price of $206.96 and a two-hundred day moving average price of $218.10. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04. The company has a market capitalization of $126.37 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. Honeywell International Inc. has a 1-year low of $169.21 and a 1-year high of $228.04.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) 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. Research analysts predict 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 $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend 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 currently 50.16%.

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.