Cardinal Capital Management Inc. Boosts Stock Position in Honeywell International Inc. $HON

Key Points

• Cardinal Capital Management increased its stake in Honeywell by 6.1% in Q4, buying an additional 7,929 shares to hold 138,726 shares valued at about $27.06 million.
• Corporate insiders have been selling recently — a total of 18,190 shares worth ~$4.24 million in the last three months, including sales by Director D. Scott Davis and VP Robert D. Mailloux.
• Honeywell beat Q4 estimates with $2.59 EPS (vs. $2.54) and $10.07B revenue (vs. $9.60B), pays a $1.19 quarterly dividend (2.0% yield), and has a MarketBeat consensus of a Moderate Buy with a $251.83 target.

Cardinal Capital Management Inc. lifted its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,726 shares of the conglomerate's stock after purchasing an additional 7,929 shares during the quarter. Cardinal Capital Management Inc.'s holdings in Honeywell International were worth $27,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HON. Holos Integrated Wealth LLC purchased a new position in shares of Honeywell International in the 4th quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC boosted its holdings in shares of Honeywell International by 491.7% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 142 shares of the conglomerate's stock worth $30,000 after purchasing an additional 118 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of Honeywell International in the 3rd quarter worth about $31,000. Cedar Mountain Advisors LLC boosted its holdings in shares of Honeywell International by 116.7% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 156 shares of the conglomerate's stock worth $33,000 after purchasing an additional 84 shares in the last quarter. Finally, Strive Asset Management LLC purchased a new position in shares of Honeywell International in the 3rd quarter worth about $33,000. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Honeywell International

In other news, Director D Scott Davis sold 2,367 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $240.00, for a total value of $568,080.00. Following the completion of the transaction, the director owned 31,081 shares of the company's stock, valued at approximately $7,459,440. This represents a 7.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert D. Mailloux sold 10,549 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $229.00, for a total value of $2,415,721.00. Following the completion of the transaction, the vice president directly owned 4,803 shares of the company's stock, valued at $1,099,887. This represents a 68.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,190 shares of company stock valued at $4,244,287 in the last three months. Corporate insiders own 0.20% of the company's stock.

Honeywell International Trading Up 1.5%

NASDAQ HON opened at $236.06 on Friday. Honeywell International Inc. has a fifty-two week low of $178.11 and a fifty-two week high of $248.18. The stock has a market cap of $150.06 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 3.36 and a beta of 0.93. The stock has a 50 day simple moving average of $234.86 and a two-hundred day simple moving average of $214.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.30.

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

Honeywell International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $1.19 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $4.76 annualized dividend and a dividend yield of 2.0%. Honeywell International's dividend payout ratio is currently 59.57%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HON. Morgan Stanley upped their price objective on Honeywell International from $235.00 to $245.00 and gave the stock an "equal weight" rating in a report on Thursday, March 12th. Royal Bank Of Canada increased their target price on Honeywell International from $249.00 to $268.00 and gave the company an "outperform" rating in a report on Friday, January 30th. DZ Bank dropped their target price on Honeywell International from $248.00 to $237.00 in a report on Tuesday, December 23rd. Deutsche Bank Aktiengesellschaft increased their target price on Honeywell International from $273.00 to $292.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Finally, Daiwa Securities Group increased their target price on Honeywell International from $230.00 to $240.00 in a report on Tuesday, February 3rd. Fourteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Honeywell International currently has a consensus rating of "Moderate Buy" and a consensus target price of $251.83.

Honeywell International Company Profile

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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