Blue Trust Inc. Increases Stock Holdings in Honeywell International Inc. $HON

Key Points

• Blue Trust Inc. increased its holdings in Honeywell International Inc. by 123.8% in the second quarter, acquiring an additional 17,752 shares and valuing its total stake at $7.47 million.
• Multiple institutional investors have recently purchased shares of Honeywell, increasing the total institutional ownership to 75.91%.
• Honeywell announced a quarterly dividend of $1.19 per share, a raise from its previous dividend, representing a 2.3% yield on an annualized basis.

Blue Trust Inc. increased its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 123.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,092 shares of the conglomerate's stock after acquiring an additional 17,752 shares during the quarter. Blue Trust Inc.'s holdings in Honeywell International were worth $7,474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Chung Wu Investment Group LLC purchased a new position in shares of Honeywell International during the 2nd quarter valued at $26,000. Pandora Wealth Inc. bought a new stake in Honeywell International during the first quarter valued at $33,000. RMG Wealth Management LLC purchased a new position in Honeywell International during the second quarter worth about $33,000. 1248 Management LLC bought a new position in Honeywell International in the 1st quarter worth about $38,000. Finally, Dogwood Wealth Management LLC raised its holdings in shares of Honeywell International by 143.9% in the 2nd quarter. Dogwood Wealth Management LLC now owns 161 shares of the conglomerate's stock valued at $39,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 75.91% of the company's stock.

Wall Street Analysts Forecast Growth

HON has been the subject of several recent analyst reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Honeywell International in a report on Wednesday. TD Cowen cut their price target on shares of Honeywell International from $260.00 to $250.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Honeywell International from $268.00 to $271.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Royal Bank Of Canada cut their target price on shares of 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, Jefferies Financial Group reduced their target price on Honeywell International from $240.00 to $230.00 and set a "hold" rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $251.80.

Insider Transactions at Honeywell International

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

Honeywell International Price Performance

Shares of Honeywell International stock opened at $204.23 on Friday. The company's fifty day simple moving average is $214.45 and its two-hundred day simple moving average is $217.28. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77. The firm has a market cap of $129.67 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 2.35 and a beta of 1.06. 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 - Get Free Report) last posted its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. The company had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. 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 analysts expect that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

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

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.

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