Allianz SE Acquires 20,812 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• Allianz SE increased its stake in Honeywell International by 426.5% in Q1, acquiring an additional 20,812 shares, bringing its total holdings to 25,692 shares worth approximately $5.44 million.
• Honeywell reported $2.75 earnings per share for Q2, surpassing estimates and showing an 8.1% year-over-year revenue growth with total revenue of $10.35 billion.
• The company announced a quarterly dividend of $1.13 per share, providing a 2.1% dividend yield, with a pay date set for September 5th.

Allianz SE grew its holdings in Honeywell International Inc. (NASDAQ:HON - Free Report) by 426.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,692 shares of the conglomerate's stock after purchasing an additional 20,812 shares during the period. Allianz SE's holdings in Honeywell International were worth $5,440,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Red Door Wealth Management LLC lifted its stake in Honeywell International by 2.6% during the 1st quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate's stock valued at $6,160,000 after acquiring an additional 736 shares during the period. Petros Family Wealth LLC purchased a new position in shares of Honeywell International during the fourth quarter valued at approximately $383,000. Spinnaker Trust lifted its position in Honeywell International by 2.4% during the first quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate's stock valued at $2,456,000 after purchasing an additional 276 shares during the period. Menora Mivtachim Holdings LTD. bought a new position in Honeywell International during the fourth quarter valued at approximately $316,000. Finally, Tandem Investment Partners LLC purchased a new stake in Honeywell International in the fourth quarter worth approximately $618,000. Hedge funds and other institutional investors own 75.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Mizuho boosted their target price on shares of Honeywell International from $235.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Wells Fargo & Company reduced their price objective on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a research report on Friday, July 25th. Wall Street Zen raised Honeywell International from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Bank of America raised shares of Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price target for the company in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada dropped their price objective on shares of Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a report on Friday, July 25th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $254.00.

Honeywell International Stock Down 2.1%

NASDAQ HON opened at $217.71 on Friday. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. The stock has a market cap of $138.22 billion, a PE ratio of 24.77, a P/E/G ratio of 2.46 and a beta of 1.08. The stock's 50 day moving average is $229.24 and its 200 day moving average is $217.06.

Honeywell International (NASDAQ:HON - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The firm had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.01 billion. During the same quarter last year, the business posted $2.49 earnings per share. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts predict that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Dividend Announcement

The business also recently disclosed 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. This represents a $4.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 15th. Honeywell International's dividend payout ratio is 51.42%.

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.

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