Connor Clark & Lunn Investment Management Ltd. Purchases New Shares in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired a new stake in Honeywell International, totaling approximately $6.95 million, by purchasing 32,809 shares.
• Honeywell reported a quarterly earnings per share of $2.75, surpassing estimates, with a revenue of $10.35 billion, marking an 8.1% increase year-over-year.
• The company recently declared a quarterly dividend of $1.13 per share, reflecting an annualized yield of 2.1%.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Honeywell International Inc. (NASDAQ:HON - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,809 shares of the conglomerate's stock, valued at approximately $6,947,000.

Several other large investors also recently modified their holdings of the business. Kirtland Hills Capital Management LLC increased its holdings in shares of Honeywell International by 1.1% in the 1st quarter. Kirtland Hills Capital Management LLC now owns 4,424 shares of the conglomerate's stock worth $870,000 after acquiring an additional 48 shares during the period. Sound View Wealth Advisors Group LLC grew its stake in shares of Honeywell International by 0.6% in the first quarter. Sound View Wealth Advisors Group LLC now owns 8,769 shares of the conglomerate's stock worth $1,857,000 after acquiring an additional 48 shares during the last quarter. Gateway Wealth Partners LLC boosted its stake in Honeywell International by 2.5% during the first quarter. Gateway Wealth Partners LLC now owns 2,044 shares of the conglomerate's stock worth $433,000 after buying an additional 49 shares in the last quarter. Cetera Trust Company N.A raised its holdings in shares of Honeywell International by 0.5% in the first quarter. Cetera Trust Company N.A now owns 10,475 shares of the conglomerate's stock valued at $2,218,000 after buying an additional 50 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in Honeywell International by 12.0% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 466 shares of the conglomerate's stock worth $99,000 after purchasing an additional 50 shares during the last quarter. 75.91% of the stock is currently owned by institutional investors.

Honeywell International Price Performance

Shares of NASDAQ:HON traded down $1.53 during trading on Friday, reaching $216.67. The company had a trading volume of 1,499,395 shares, compared to its average volume of 4,070,331. Honeywell International Inc. has a twelve month low of $179.36 and a twelve month high of $242.77. The firm has a market capitalization of $137.56 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.48 and a beta of 1.08. The firm's fifty day moving average is $227.96 and its 200 day moving average is $216.78. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29.

Honeywell International (NASDAQ:HON - Get Free Report) last issued its 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 business had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.01 billion. During the same quarter last year, the firm posted $2.49 earnings per share. Honeywell International's revenue was up 8.1% compared to the same quarter last year. On average, equities analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. 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. Wells Fargo & Company cut their target price on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating on the stock in a research report on Friday, July 25th. Citigroup upped their price target on Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Bank of America upgraded Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 target price on the stock in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised their price target on Honeywell International from $182.00 to $217.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $254.00.

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.