Cove Private Wealth LLC Increases Stock Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Cove Private Wealth LLC increased its stake in Honeywell International Inc. by 102.8% during the first quarter, now owning 3,042 shares valued at $644,000.
• Analysts have mixed ratings for Honeywell, with an average consensus price target of $254.00 and a mix of buy and hold ratings from major investment firms.
• Honeywell's latest earnings report showed a net revenue increase of 8.1% year-over-year, with an EPS of $2.75 beating analysts' expectations.

Cove Private Wealth LLC raised its position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 102.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,042 shares of the conglomerate's stock after acquiring an additional 1,542 shares during the quarter. Cove Private Wealth LLC's holdings in Honeywell International were worth $644,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Kirtland Hills Capital Management LLC raised its holdings in 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 purchasing an additional 48 shares during the period. Sound View Wealth Advisors Group LLC boosted its holdings in Honeywell International by 0.6% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 8,769 shares of the conglomerate's stock worth $1,857,000 after buying an additional 48 shares during the period. Gateway Wealth Partners LLC boosted its holdings in Honeywell International by 2.5% in the 1st quarter. Gateway Wealth Partners LLC now owns 2,044 shares of the conglomerate's stock worth $433,000 after buying an additional 49 shares during the period. Cetera Trust Company N.A boosted its holdings in Honeywell International by 0.5% in the 1st quarter. Cetera Trust Company N.A now owns 10,475 shares of the conglomerate's stock worth $2,218,000 after buying an additional 50 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Honeywell International by 12.0% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 466 shares of the conglomerate's stock worth $99,000 after buying an additional 50 shares during the period. Institutional investors own 75.91% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HON shares. 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. Morgan Stanley upped their target price on shares of Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Wall Street Zen upgraded shares of Honeywell International from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. lifted their price target on shares of Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Citigroup lifted their price target on shares of Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.00.

Honeywell International Trading Up 0.3%

HON stock traded up $0.56 during mid-day trading on Tuesday, reaching $217.01. 4,340,984 shares of the stock traded hands, compared to its average volume of 3,802,513. Honeywell International Inc. has a one year low of $179.36 and a one year high of $242.77. The stock has a market capitalization of $137.78 billion, a PE ratio of 24.69, a PEG ratio of 2.44 and a beta of 1.08. The business has a 50-day moving average price of $228.28 and a two-hundred day moving average price of $216.81. 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 quarterly earnings data on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. The firm had revenue of $10.35 billion during the quarter, compared to analyst estimates 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 for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.49 EPS. Equities research analysts expect that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Dividend Announcement

The company also recently declared 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 of this dividend is Friday, August 15th. This represents a $4.52 dividend on an annualized basis and a yield of 2.1%. Honeywell International's dividend payout ratio is 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.