Cary Street Partners Financial LLC Raises Stock Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Cary Street Partners Financial LLC boosted its stake in Honeywell International Inc. by 13.9% to a total of 45,508 shares, with a value of approximately $9.6 million as reported in its recent SEC filing.
• Several analysts have upgraded Honeywell International, with recommendations evolving from "hold" to "buy," and target prices ranging from $217.00 to $265.00.
• Honeywell announced a quarterly dividend of $1.13 per share, scheduled for payment on September 5th, representing an annualized dividend yield of 2.0%.

Cary Street Partners Financial LLC raised its stake in Honeywell International Inc. (NASDAQ:HON - Free Report) by 13.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,508 shares of the conglomerate's stock after acquiring an additional 5,558 shares during the quarter. Cary Street Partners Financial LLC's holdings in Honeywell International were worth $9,636,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HON. Capital World Investors bought a new position in Honeywell International during the fourth quarter worth $1,594,216,000. GAMMA Investing LLC increased its holdings in shares of Honeywell International by 20,894.0% in the 1st quarter. GAMMA Investing LLC now owns 1,326,614 shares of the conglomerate's stock valued at $2,809,110,000 after purchasing an additional 1,320,295 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Honeywell International by 592.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate's stock valued at $183,728,000 after buying an additional 742,281 shares during the last quarter. Demars Financial Group LLC acquired a new stake in shares of Honeywell International in the fourth quarter worth about $155,407,000. Finally, Leigh Baldwin & CO. LLC bought a new position in shares of Honeywell International in the fourth quarter worth about $123,294,000. 75.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Royal Bank Of Canada dropped their price target on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a research note on Friday, July 25th. Barclays boosted their price objective on shares of Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Citigroup boosted their target price on shares of Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $254.00.

Honeywell International Price Performance

HON stock traded down $1.83 during midday trading on Wednesday, hitting $219.23. The company's stock had a trading volume of 2,790,995 shares, compared to its average volume of 3,732,723. The firm has a market capitalization of $139.19 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.49 and a beta of 1.08. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81. The company has a 50 day moving average of $229.11 and a two-hundred day moving average of $217.04.

Honeywell International (NASDAQ:HON - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.01 billion. During the same quarter last year, the business posted $2.49 earnings per share. The firm's revenue was up 8.1% on a year-over-year basis. On average, analysts expect that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, August 15th. Honeywell International's dividend payout ratio (DPR) is currently 51.42%.

Honeywell International 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.