Charles Schwab Investment Management Inc. Boosts Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Honeywell International by 1.2% during the first quarter, now owning 3,948,557 shares valued at approximately $836 million.
• Honeywell reported a Q2 EPS of $2.75, beating estimates and achieving an 8.1% year-over-year revenue growth with total revenues of $10.35 billion.
• The company has declared a quarterly dividend of $1.13, payable on September 5th, 2023, marking an annualized dividend yield of 2.1%.

Charles Schwab Investment Management Inc. increased its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,948,557 shares of the conglomerate's stock after acquiring an additional 47,433 shares during the period. Charles Schwab Investment Management Inc. owned about 0.61% of Honeywell International worth $836,107,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Coign Capital Advisors LLC boosted its holdings in Honeywell International by 29.7% in the first quarter. Coign Capital Advisors LLC now owns 2,495 shares of the conglomerate's stock worth $528,000 after purchasing an additional 572 shares during the last quarter. Provident Investment Management Inc. lifted its holdings in shares of Honeywell International by 51.6% during the 1st quarter. Provident Investment Management Inc. now owns 3,315 shares of the conglomerate's stock valued at $702,000 after buying an additional 1,128 shares during the period. Nicholas Hoffman & Company LLC. lifted its holdings in shares of Honeywell International by 3.0% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,421 shares of the conglomerate's stock valued at $936,000 after buying an additional 129 shares during the period. WealthShield Partners LLC purchased a new position in shares of Honeywell International in the 1st quarter worth $212,000. Finally, AXS Investments LLC grew its holdings in shares of Honeywell International by 4.2% in the first quarter. AXS Investments LLC now owns 2,333 shares of the conglomerate's stock worth $494,000 after acquiring an additional 95 shares during the period. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HON shares. JPMorgan Chase & Co. increased their target price on Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Royal Bank Of Canada lowered their price objective on shares of 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. Citigroup boosted their target price on shares of Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley upped their target price on shares of Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Finally, Bank of America upgraded shares of Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price target on the stock in a research note on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.00.

Honeywell International Price Performance

HON stock traded down $0.10 during mid-day trading on Tuesday, hitting $216.35. The company had a trading volume of 1,641,817 shares, compared to its average volume of 4,079,609. The company has a market capitalization of $137.36 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 2.44 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 price of $228.48 and a 200 day moving average price of $216.81.

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

Honeywell International Dividend Announcement

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

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.