Generali Asset Management SPA SGR Raises Position in Honeywell International Inc. $HON

Key Points

• Generali Asset Management SPA SGR has increased its stake in Honeywell International Inc. by 85.0%, now holding 30,210 shares worth approximately $7,035,000.
• Honeywell has recently declared a quarterly dividend of $1.19 per share, which is an increase from the previous $1.13, representing an annual yield of 2.4%.
• Equities research analysts have varied price target estimates for Honeywell, with an average target of $251.67 and ratings ranging from "Strong Buy" to "Hold".

Generali Asset Management SPA SGR lifted its stake in Honeywell International Inc. (NASDAQ:HON - Free Report) by 85.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,210 shares of the conglomerate's stock after purchasing an additional 13,880 shares during the period. Generali Asset Management SPA SGR's holdings in Honeywell International were worth $7,035,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Red Door Wealth Management LLC boosted its stake in shares of Honeywell International by 2.6% in the 1st quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate's stock valued at $6,160,000 after buying an additional 736 shares during the period. Amundi lifted its stake in Honeywell International by 30.2% in the first quarter. Amundi now owns 519,882 shares of the conglomerate's stock worth $107,450,000 after acquiring an additional 120,706 shares during the last quarter. Spinnaker Trust lifted its stake in Honeywell International by 2.4% in the first quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate's stock worth $2,456,000 after acquiring an additional 276 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in Honeywell International by 11.4% in the first quarter. Integrated Wealth Concepts LLC now owns 28,502 shares of the conglomerate's stock worth $6,035,000 after acquiring an additional 2,915 shares during the last quarter. Finally, Baxter Bros Inc. lifted its position in shares of Honeywell International by 14.6% during the 2nd quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate's stock worth $8,321,000 after purchasing an additional 4,543 shares during the last quarter. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HON shares. Morgan Stanley lifted 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 report on Monday, July 28th. 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 report on Tuesday, October 7th. Barclays boosted their target price on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. TD Cowen decreased their target price on Honeywell International from $260.00 to $250.00 in a research note on Tuesday, October 7th. Finally, Robert W. Baird decreased their target price on Honeywell International from $250.00 to $220.00 and set a "neutral" rating for the company in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Honeywell International has an average rating of "Moderate Buy" and a consensus price target of $251.67.

Honeywell International Price Performance

Shares of NASDAQ:HON opened at $202.50 on Thursday. The company has a 50-day simple moving average of $213.17 and a 200-day simple moving average of $217.04. Honeywell International Inc. has a one year low of $179.36 and a one year 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 stock has a market capitalization of $128.57 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 2.34 and a beta of 1.06.

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

Honeywell International Increases Dividend

The business also recently declared 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 represents a $4.76 annualized dividend and a dividend yield of 2.4%. This is a boost from Honeywell International's previous quarterly dividend of $1.13. The ex-dividend date is Friday, November 14th. Honeywell International's dividend payout ratio (DPR) is currently 51.42%.

Insider Activity at Honeywell International

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the company's stock in a transaction on 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 transaction, the chief executive officer owned 10,334 shares in the company, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

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.

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