CapWealth Advisors LLC Increases Position in Honeywell International Inc. $HON

Key Points

• CapWealth Advisors LLC increased its stake in Honeywell International Inc. by 2.1% during the second quarter, holding 63,360 shares valued at approximately $14.76 million.
• Honeywell recently announced a quarterly dividend increase from $1.13 to $1.19 per share, scheduled to be paid on December 5th, reflecting a 2.3% yield.
• The company reported earnings of $2.25 per share with a revenue of $8.95 billion for the last quarter, expecting EPS guidance for Q4 2023 to be between $2.530-2.630.

CapWealth Advisors LLC boosted its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,360 shares of the conglomerate's stock after purchasing an additional 1,275 shares during the period. CapWealth Advisors LLC's holdings in Honeywell International were worth $14,755,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HON. Nuveen LLC purchased a new position in Honeywell International during the first quarter worth approximately $1,150,929,000. Wellington Management Group LLP raised its stake in Honeywell International by 8.9% during the first quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate's stock worth $3,335,476,000 after purchasing an additional 1,293,137 shares during the period. Alliancebernstein L.P. raised its stake in Honeywell International by 64.6% during the first quarter. Alliancebernstein L.P. now owns 2,652,344 shares of the conglomerate's stock worth $561,634,000 after purchasing an additional 1,041,273 shares during the period. Vista Cima Wealth Management LLC purchased a new position in Honeywell International during the first quarter worth approximately $164,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in Honeywell International by 592.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate's stock worth $183,728,000 after purchasing an additional 742,281 shares during the period. Hedge funds and other institutional investors own 75.91% of the company's stock.

Insider Buying and Selling

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 10,334 shares in the company, valued at $2,289,807.72. This represents a 80.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Honeywell International Price Performance

HON opened at $202.96 on Friday. The company has a fifty day simple moving average of $212.63 and a 200 day simple moving average of $216.91. The firm has a market cap of $128.86 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.28 and a beta of 1.06. Honeywell International Inc. has a twelve month low of $179.36 and a twelve 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.

Honeywell International (NASDAQ:HON - Get Free Report) last released its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. The business 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. Equities research analysts expect that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The business 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. This is a positive change from Honeywell International's previous quarterly dividend of $1.13. The ex-dividend date is Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a yield of 2.3%. Honeywell International's payout ratio is currently 54.15%.

Analyst Ratings Changes

A number of equities analysts have weighed in on HON shares. Wells Fargo & Company cut their price target on shares of Honeywell International from $230.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Monday, October 6th. Weiss Ratings reissued a "buy (b-)" rating on shares of Honeywell International in a research report on Wednesday, October 8th. Jefferies Financial Group dropped their price objective on shares of Honeywell International from $240.00 to $230.00 and set a "hold" rating for the company in a research report on Tuesday, October 7th. Barclays increased their price objective on shares of Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. 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 for the company in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $251.67.

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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