Cardinal Point Capital Management ULC Takes Position in Honeywell International Inc. $HON

Key Points

• Cardinal Point Capital Management ULC acquired 1,744 shares of Honeywell International Inc., valued at approximately $406,000, in the second quarter of 2023.
• Honeywell International's quarterly dividend will increase to $1.19, with an annual yield of 2.2%, payable on December 5th, 2023.
• The company reported earnings of $2.25 per share for the last quarter, along with revenue of $8.95 billion, and set Q4 guidance at 2.530-2.630 EPS.

Cardinal Point Capital Management ULC acquired a new stake in Honeywell International Inc. (NASDAQ:HON - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,744 shares of the conglomerate's stock, valued at approximately $406,000.

Other institutional investors have also modified their holdings of the company. Red Door Wealth Management LLC lifted its holdings in shares of Honeywell International by 2.6% in the first quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate's stock valued at $6,160,000 after buying an additional 736 shares during the period. Amundi lifted its holdings in shares of Honeywell International by 30.2% in the first quarter. Amundi now owns 519,882 shares of the conglomerate's stock valued at $107,450,000 after buying an additional 120,706 shares during the period. Triton Financial Group Inc acquired a new stake in shares of Honeywell International in the second quarter valued at $1,001,000. Spinnaker Trust lifted its holdings in shares of Honeywell International by 2.4% in the first quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate's stock valued at $2,456,000 after buying an additional 276 shares during the period. Finally, Baxter Bros Inc. lifted its holdings in shares of Honeywell International by 14.6% in the second quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate's stock valued at $8,321,000 after buying an additional 4,543 shares during the period. Institutional investors and hedge funds own 75.91% of the company's stock.

Honeywell International Stock Down 2.1%

NASDAQ:HON opened at $216.14 on Friday. The firm has a market capitalization of $137.23 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 2.70 and a beta of 1.06. Honeywell International Inc. has a 1-year low of $179.36 and a 1-year high of $242.77. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.70. The business's fifty day moving average price is $212.04 and its 200 day moving average price is $217.42.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. The firm had revenue of $8.95 billion for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. On average, sell-side analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Honeywell International's previous quarterly dividend of $1.13. Honeywell International's payout ratio is currently 51.42%.

Insiders Place Their Bets

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the transaction, the chief executive officer directly owned 10,334 shares of the company's stock, valued at $2,289,807.72. This represents a 80.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

HON has been the subject of several analyst reports. Jefferies Financial Group reduced their target price on Honeywell International from $240.00 to $230.00 and set a "hold" rating for the company in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Honeywell International in a report on Wednesday, October 8th. Wells Fargo & Company upped their target price on Honeywell International from $220.00 to $230.00 in a report on Friday. Robert W. Baird reduced their target price on Honeywell International from $250.00 to $220.00 and set a "neutral" rating for the company in a report on Monday, October 13th. Finally, JPMorgan Chase & Co. upped their target price on Honeywell International from $212.00 to $218.00 and gave the company a "neutral" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $251.60.

Honeywell International Company 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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