Costello Asset Management INC Acquires 1,511 Shares of Honeywell International Inc. (NASDAQ:HON)

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 raised its holdings in Honeywell International Inc. (NASDAQ:HON - Free Report) by 11.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,201 shares of the conglomerate's stock after acquiring an additional 1,511 shares during the period. Honeywell International makes up approximately 1.3% of Costello Asset Management INC's investment portfolio, making the stock its 19th largest position. Costello Asset Management INC's holdings in Honeywell International were worth $3,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC acquired a new stake in shares of Honeywell International in the fourth quarter valued at approximately $29,000. Accredited Wealth Management LLC acquired a new stake in Honeywell International during the 4th quarter worth approximately $34,000. Alexis Investment Partners LLC acquired a new position in shares of Honeywell International in the fourth quarter valued at approximately $37,000. Banque de Luxembourg S.A. purchased a new stake in shares of Honeywell International during the fourth quarter worth approximately $38,000. Finally, Garde Capital Inc. purchased a new position in Honeywell International during the 1st quarter worth $42,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HON has been the subject of several recent analyst reports. Mizuho raised their price target on Honeywell International from $235.00 to $250.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Royal Bank Of Canada cut their price target on shares of Honeywell International from $254.00 to $253.00 and set a "sector perform" rating for the company in a report on Friday, July 25th. Bank of America raised shares of Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 target price for the company in a report on Wednesday, May 7th. Citigroup boosted their price target on Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Honeywell International from $182.00 to $217.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $254.00.

Honeywell International Stock Down 0.8%

NASDAQ HON traded down $1.83 during trading hours on Wednesday, reaching $219.23. 2,790,995 shares of the company's stock were exchanged, compared to its average volume of 3,732,723. 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 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. The company's 50-day moving average is $229.11 and its two-hundred day moving average is $217.04. Honeywell International Inc. has a one year low of $179.36 and a one year high of $242.77.

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

Honeywell International Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.1%. 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.