Honeywell International Inc. (NASDAQ:HON) Shares Bought by Costello Asset Management INC

Key Points

• Costello Asset Management INC has increased its holdings in Honeywell International by 11.0%, after acquiring an additional 1,511 shares, which now makes up about 1.3% of its total investment portfolio.
• Honeywell International reported a quarterly earnings per share (EPS) of $2.75, exceeding analysts' expectations and marking an 8.1% increase in year-over-year revenue.
• The company announced a quarterly dividend of $1.13 per share, resulting in an annualized dividend yield of 2.0% with a payout ratio of 51.42%.

Costello Asset Management INC boosted its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,201 shares of the conglomerate's stock after acquiring an additional 1,511 shares during the quarter. Honeywell International accounts for about 1.3% of Costello Asset Management INC's holdings, making the stock its 19th biggest holding. Costello Asset Management INC's holdings in Honeywell International were worth $3,219,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors acquired a new position in shares of Honeywell International in the 4th quarter valued at $1,594,216,000. Capital Research Global Investors increased its holdings in shares of Honeywell International by 5.5% in the 4th quarter. Capital Research Global Investors now owns 6,641,017 shares of the conglomerate's stock valued at $1,500,141,000 after acquiring an additional 346,190 shares during the period. Northern Trust Corp increased its holdings in shares of Honeywell International by 5.7% in the 4th quarter. Northern Trust Corp now owns 6,253,570 shares of the conglomerate's stock valued at $1,412,619,000 after acquiring an additional 337,199 shares during the period. Invesco Ltd. increased its holdings in shares of Honeywell International by 5.2% in the 4th quarter. Invesco Ltd. now owns 5,285,417 shares of the conglomerate's stock valued at $1,193,923,000 after acquiring an additional 263,188 shares during the period. Finally, Capital International Investors increased its holdings in shares of Honeywell International by 8.3% in the 4th quarter. Capital International Investors now owns 2,230,845 shares of the conglomerate's stock valued at $503,966,000 after acquiring an additional 170,270 shares during the period. Institutional investors and hedge funds own 75.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HON shares. Royal Bank Of Canada cut their target price on shares of Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a report on Friday, July 25th. Morgan Stanley lifted 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. Wells Fargo & Company lowered their price objective on shares of 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. 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 research note on Wednesday, July 9th. Finally, Wall Street Zen raised shares of Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. 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. According to MarketBeat.com, Honeywell International currently has a consensus rating of "Moderate Buy" and an average target price of $254.00.

Honeywell International Price Performance

Shares of Honeywell International stock traded down $0.25 on Friday, hitting $216.33. The company's stock had a trading volume of 3,058,993 shares, compared to its average volume of 3,795,408. The company has a market capitalization of $137.35 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 2.44 and a beta of 1.08. 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 firm has a fifty day moving average price of $228.66 and a 200-day moving average price of $216.95. Honeywell International Inc. has a 52-week low of $179.36 and a 52-week high of $242.77.

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

Honeywell International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders 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 yield of 2.1%. The ex-dividend date is Friday, August 15th. Honeywell International's dividend payout ratio is 51.42%.

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.