Goldman Sachs Group Inc. Increases Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Goldman Sachs Group Inc. increased its stake in Honeywell International Inc. by 9.1% during the first quarter, owning approximately 6 million shares valued at $1.28 billion.
• Honeywell reported earnings of $2.75 per share for the last quarter, surpassing estimates, with a revenue of $10.35 billion, reflecting an 8.1% year-over-year growth.
• The company declared a quarterly dividend of $1.13 per share, representing a 2.0% yield, with a payout ratio of 51.42%.

Goldman Sachs Group Inc. boosted its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,038,080 shares of the conglomerate's stock after buying an additional 505,083 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.94% of Honeywell International worth $1,278,563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors bought a new stake in Honeywell International in the fourth quarter valued at about $1,594,216,000. Capital Research Global Investors boosted its stake in Honeywell International by 5.5% in the fourth 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 boosted its stake in Honeywell International by 5.7% in the fourth 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. Capital International Investors boosted its stake in Honeywell International by 8.3% in the fourth 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. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Honeywell International by 1.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,880,879 shares of the conglomerate's stock valued at $398,276,000 after acquiring an additional 23,409 shares during the period. 75.91% of the stock is owned by institutional investors.

Honeywell International Price Performance

Shares of NASDAQ:HON opened at $221.06 on Wednesday. The company's fifty day moving average is $229.11 and its two-hundred day moving average is $217.04. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77. The company has a market cap of $140.35 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 2.49 and a beta of 1.08.

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

Honeywell International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid 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 2.0%. Honeywell International's dividend payout ratio is 51.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HON shares. Wells Fargo & Company decreased their target price on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a research note on Friday, July 25th. Wall Street Zen upgraded Honeywell International from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley boosted their price objective on Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Bank of America upgraded Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price objective for the company in a research report on Wednesday, May 7th. Finally, Citigroup upped their target price on Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $254.00.

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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