CORDA Investment Management LLC. Boosts Stake in Honeywell International Inc. $HON

Key Points

• CORDA Investment Management LLC increased its stake in Honeywell International Inc. by 1.8% in Q2, bringing its total holdings to 98,193 shares valued at approximately $22.87 million.
• Honeywell International plans to increase its quarterly dividend from $1.13 to $1.19 per share, with an annualized yield of 2.3% effective December 5th.
• Analyst ratings for Honeywell have varied, with a consensus rating of "Moderate Buy" and an average price target of $251.67 following recent upgrades and downgrades by several firms.

CORDA Investment Management LLC. grew its stake in Honeywell International Inc. (NASDAQ:HON - Free Report) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,193 shares of the conglomerate's stock after buying an additional 1,760 shares during the period. Honeywell International accounts for 1.7% of CORDA Investment Management LLC.'s holdings, making the stock its 29th biggest position. CORDA Investment Management LLC.'s holdings in Honeywell International were worth $22,867,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in HON. Chung Wu Investment Group LLC purchased a new position in shares of Honeywell International in the second quarter worth $26,000. Pandora Wealth Inc. purchased a new position in shares of Honeywell International in the first quarter worth $33,000. RMG Wealth Management LLC acquired a new stake in shares of Honeywell International in the second quarter worth $33,000. Activest Wealth Management increased its stake in shares of Honeywell International by 425.9% in the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate's stock worth $33,000 after acquiring an additional 115 shares during the period. Finally, 1248 Management LLC acquired a new stake in shares of Honeywell International in the first quarter worth $38,000. Hedge funds and other institutional investors own 75.91% of the company's stock.

Analyst Upgrades and Downgrades

HON has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Honeywell International from $268.00 to $271.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Morgan Stanley increased their price objective on shares of Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Honeywell International in a research note on Wednesday, October 8th. Robert W. Baird cut their price objective on shares of Honeywell International from $250.00 to $220.00 and set a "neutral" rating on the stock in a research note on Monday, October 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Honeywell International from $222.00 to $212.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $251.67.

Honeywell International Stock Down 0.1%

HON opened at $202.96 on Monday. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29. The company has a fifty day moving average of $212.63 and a two-hundred day moving average of $216.98. The stock has a market capitalization of $128.86 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.52 and a beta of 1.06.

Honeywell International (NASDAQ:HON - Get Free Report) last released its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The company had revenue of $8.95 billion during the quarter. 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, research analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.19 per share. This is an increase from Honeywell International's previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International's dividend payout ratio is presently 51.42%.

Insider Activity at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the sale, the chief executive officer owned 10,334 shares of the company's stock, valued at $2,289,807.72. The trade was a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding HON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Honeywell International Inc. (NASDAQ:HON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.