Cane Capital Partners LLC Takes Position in Honeywell International Inc. $HON

Key Points

• Cane Capital Partners LLC acquired a new stake of 4,758 shares in Honeywell during Q4, valued at about $928,000.
• Multiple large institutions (e.g., SG Americas, Franklin Resources, Marshall Wace, Two Sigma, Boston Partners) have materially increased holdings, leaving 75.91% of the stock owned by institutional investors.
• Analysts' consensus is a "Moderate Buy" with an average target of $251.83; Honeywell recently beat quarterly EPS and revenue estimates and pays a quarterly dividend of $1.19 (annualized yield ~2.1%).

Cane Capital Partners LLC acquired a new stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,758 shares of the conglomerate's stock, valued at approximately $928,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HON. SG Americas Securities LLC lifted its position in Honeywell International by 15,459.1% during the fourth quarter. SG Americas Securities LLC now owns 4,057,960 shares of the conglomerate's stock valued at $791,667,000 after acquiring an additional 4,031,879 shares during the last quarter. Franklin Resources Inc. lifted its position in Honeywell International by 28.8% during the third quarter. Franklin Resources Inc. now owns 10,196,543 shares of the conglomerate's stock valued at $2,146,372,000 after acquiring an additional 2,277,234 shares during the last quarter. Marshall Wace LLP lifted its position in Honeywell International by 130.0% during the third quarter. Marshall Wace LLP now owns 1,845,032 shares of the conglomerate's stock valued at $388,379,000 after acquiring an additional 1,042,972 shares during the last quarter. Two Sigma Investments LP lifted its position in Honeywell International by 424.3% during the third quarter. Two Sigma Investments LP now owns 1,153,754 shares of the conglomerate's stock valued at $242,865,000 after acquiring an additional 933,694 shares during the last quarter. Finally, Boston Partners lifted its position in Honeywell International by 21.6% during the third quarter. Boston Partners now owns 3,535,270 shares of the conglomerate's stock valued at $744,054,000 after acquiring an additional 626,960 shares during the last quarter. 75.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HON. Mizuho decreased their target price on shares of Honeywell International from $250.00 to $240.00 and set an "outperform" rating for the company in a research report on Monday, January 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Honeywell International from $273.00 to $292.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Barclays decreased their target price on shares of Honeywell International from $275.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, April 1st. Royal Bank Of Canada increased their target price on shares of Honeywell International from $249.00 to $268.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of Honeywell International from $236.00 to $262.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Fourteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Honeywell International presently has an average rating of "Moderate Buy" and an average target price of $251.83.

Insiders Place Their Bets

In related news, VP Robert D. Mailloux sold 10,549 shares of the business's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $229.00, for a total transaction of $2,415,721.00. Following the completion of the transaction, the vice president directly owned 4,803 shares in the company, valued at $1,099,887. The trade was a 68.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director D Scott Davis sold 2,367 shares of the business's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $240.00, for a total transaction of $568,080.00. Following the transaction, the director owned 31,081 shares of the company's stock, valued at $7,459,440. This represents a 7.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,190 shares of company stock valued at $4,244,287 over the last 90 days. 0.20% of the stock is currently owned by insiders.

Honeywell International Trading Down 1.9%

NASDAQ:HON opened at $223.84 on Wednesday. Honeywell International Inc. has a 12 month low of $169.21 and a 12 month high of $248.18. The firm has a fifty day simple moving average of $234.37 and a 200-day simple moving average of $213.76. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $142.29 billion, a P/E ratio of 28.02, a PEG ratio of 3.32 and a beta of 0.93.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its earnings results on Thursday, January 29th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.54 by $0.05. The company had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Honeywell International had a net margin of 12.74% and a return on equity of 40.64%. The firm's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 earnings per share. On average, equities research analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $1.19 per share. The ex-dividend date was Friday, February 27th. This represents a $4.76 dividend on an annualized basis and a yield of 2.1%. Honeywell International's payout ratio is currently 59.57%.

About Honeywell International

Honeywell International Inc is a diversified, publicly traded multinational conglomerate NASDAQ: HON that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell's aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.

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