Honeywell International Inc. $HON Shares Acquired by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Honeywell International by 8.0%, owning 518,125 shares valued at approximately $109.7 million as of the end of the first quarter.
• Institutional investors hold 75.91% of Honeywell's stock, highlighting significant interest from major financial companies such as Vanguard and Goldman Sachs.
• Honeywell reported a quarterly EPS of $2.75, exceeding analyst expectations, alongside a revenue increase of 8.1% year-over-year.

Korea Investment CORP lifted its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 8.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 518,125 shares of the conglomerate's stock after buying an additional 38,490 shares during the period. Korea Investment CORP owned approximately 0.08% of Honeywell International worth $109,713,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Honeywell International by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate's stock valued at $13,172,852,000 after buying an additional 447,744 shares in the last quarter. Northern Trust Corp increased its holdings 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 buying an additional 337,199 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Honeywell International by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate's stock valued at $1,278,563,000 after buying an additional 505,083 shares in the last quarter. Invesco Ltd. increased its stake in shares of Honeywell International by 5.4% during the first quarter. Invesco Ltd. now owns 5,568,610 shares of the conglomerate's stock worth $1,179,153,000 after purchasing an additional 283,193 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Honeywell International during the first quarter worth about $1,150,929,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada reduced their price target on shares of Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a research note on Friday, July 25th. Morgan Stanley boosted their price target on shares of Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Wells Fargo & Company cut their target price on shares of Honeywell International from $240.00 to $230.00 and set an "equal weight" rating on the stock in a research note on Friday, July 25th. Finally, Bank of America raised shares of Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price objective on the stock in a research report on Wednesday, May 7th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $254.00.

Honeywell International Stock Performance

Shares of HON opened at $216.77 on Monday. Honeywell International Inc. has a one year low of $179.36 and a one year high of $242.77. The company has a 50-day moving average of $227.72 and a two-hundred day moving average of $216.67. The stock has a market cap of $137.63 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.45 and a beta of 1.08. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.29 and a quick ratio of 0.97.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. The business had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.01 billion. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The firm's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 earnings per share. On average, equities research analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Dividend Announcement

The business also recently disclosed 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 is Friday, August 15th. This represents a $4.52 annualized dividend and a dividend yield of 2.1%. Honeywell International's dividend payout ratio (DPR) is presently 51.42%.

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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