Herbst Group LLC Takes Position in Honeywell International Inc. (NASDAQ:HON)

Herbst Group LLC purchased a new stake in Honeywell International Inc. (NASDAQ:HON - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,805 shares of the conglomerate's stock, valued at approximately $1,864,000.

Several other hedge funds have also recently added to or reduced their stakes in HON. Mainstream Capital Management LLC purchased a new position in Honeywell International during the 4th quarter valued at about $25,000. Avalon Trust Co increased its holdings in Honeywell International by 166.7% during the 4th quarter. Avalon Trust Co now owns 120 shares of the conglomerate's stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Honeywell International during the 4th quarter valued at about $29,000. Accredited Wealth Management LLC purchased a new position in Honeywell International during the 4th quarter valued at about $34,000. Finally, Curio Wealth LLC purchased a new position in Honeywell International during the 4th quarter valued at about $35,000. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HON. Wells Fargo & Company raised their target price on shares of Honeywell International from $205.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Honeywell International from a "hold" rating to a "buy" rating and lifted their price target for the stock from $236.00 to $260.00 in a report on Friday, February 7th. Bank of America upgraded shares of Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price target for the company in a report on Wednesday, May 7th. Citigroup lifted their price target on shares of Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Mizuho lifted their price target on shares of Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $248.14.

Honeywell International Price Performance

HON opened at $226.67 on Friday. The company's 50 day simple moving average is $210.13 and its 200 day simple moving average is $216.21. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.01 and a current ratio of 1.31. Honeywell International Inc. has a 1 year low of $179.36 and a 1 year high of $242.77. The stock has a market capitalization of $145.68 billion, a PE ratio of 26.02, a P/E/G ratio of 2.51 and a beta of 1.08.

Honeywell International (NASDAQ:HON - Get Free Report) last released its earnings results on Tuesday, April 29th. The conglomerate reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.30. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. The business had revenue of $9.82 billion for the quarter, compared to analysts' expectations of $9.59 billion. During the same period last year, the company earned $2.25 earnings per share. The company's quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.52 dividend on an annualized basis and a yield of 1.99%. Honeywell International's dividend payout ratio (DPR) is 51.95%.

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.

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