DORVAL Corp Invests $656,000 in Honeywell International Inc. $HON

Key Points

• DORVAL Corp has invested approximately $656,000 in Honeywell International Inc., acquiring 2,815 shares, which now represent about 0.2% of its investment portfolio.
• Institutional investors collectively own 75.91% of Honeywell's stock, with firms like Vanguard and Wellington Management increasing their holdings in the first quarter.
• Honeywell's recent quarterly dividend has been raised to $1.19, reflecting a commitment to returning value to shareholders and showcasing an annualized dividend yield of 2.3%.

DORVAL Corp purchased a new position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,815 shares of the conglomerate's stock, valued at approximately $656,000. Honeywell International accounts for about 0.2% of DORVAL Corp's investment portfolio, making the stock its 28th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Honeywell International by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate's stock worth $13,172,852,000 after buying an additional 447,744 shares in the last quarter. Wellington Management Group LLP grew its holdings in Honeywell International by 8.9% in the 1st quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate's stock worth $3,335,476,000 after buying an additional 1,293,137 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Honeywell International by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate's stock worth $1,278,563,000 after buying an additional 505,083 shares in the last quarter. Invesco Ltd. grew its holdings in Honeywell International by 5.4% in the 1st quarter. Invesco Ltd. now owns 5,568,610 shares of the conglomerate's stock worth $1,179,153,000 after buying an additional 283,193 shares in the last quarter. Finally, Nuveen LLC bought a new position in Honeywell International in the 1st quarter worth approximately $1,150,929,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HON shares. Wells Fargo & Company decreased their price objective on Honeywell International from $230.00 to $220.00 and set an "equal weight" rating for the company in a report on Monday, October 6th. Robert W. Baird decreased their price objective on Honeywell International from $250.00 to $220.00 and set a "neutral" rating for the company in a report on Monday. Jefferies Financial Group decreased their price target on Honeywell International from $240.00 to $230.00 and set a "hold" rating for the company in a research note on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft increased their price target on Honeywell International from $268.00 to $271.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Finally, Morgan Stanley increased their price target on Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $252.00.

Insider Activity

In other news, CEO Lucian Boldea sold 42,149 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the completion of the sale, the chief executive officer owned 10,334 shares in the company, valued at $2,289,807.72. This represents 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 insiders.

Honeywell International Stock Performance

HON opened at $208.61 on Wednesday. The firm has a market cap of $132.45 billion, a PE ratio of 23.73, a P/E/G ratio of 2.27 and a beta of 1.06. 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 business has a fifty day simple moving average of $213.50 and a 200-day simple moving average of $217.14. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77.

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. The business had revenue of $8.95 billion during the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. As a group, equities analysts predict that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a $1.19 dividend. The ex-dividend date is Friday, November 14th. 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%. Honeywell International's dividend payout ratio is currently 54.15%.

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.

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