Ontario Teachers Pension Plan Board Buys 65,265 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Honeywell International by 4.8%, making it the 7th largest position in their investment portfolio, which is approximately $304 million worth of shares.
• Wall Street analysts have varying assessments of Honeywell International, with eight analysts rating it as a hold and nine giving it a buy rating, along with an average price target of $254.00.
• Honeywell reported earnings of $2.75 per share, surpassing estimates, with a revenue of $10.35 billion for the last quarter, reflecting an 8.1% year-over-year increase.

Ontario Teachers Pension Plan Board grew its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,436,519 shares of the conglomerate's stock after acquiring an additional 65,265 shares during the quarter. Honeywell International comprises about 4.5% of Ontario Teachers Pension Plan Board's holdings, making the stock its 7th largest position. Ontario Teachers Pension Plan Board owned 0.22% of Honeywell International worth $304,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Deutsche Bank AG lifted its position in Honeywell International by 24.9% during the first quarter. Deutsche Bank AG now owns 1,954,887 shares of the conglomerate's stock valued at $413,947,000 after buying an additional 390,284 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in Honeywell International by 26.6% during the first quarter. Chicago Partners Investment Group LLC now owns 3,779 shares of the conglomerate's stock valued at $811,000 after buying an additional 793 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Honeywell International by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,948,557 shares of the conglomerate's stock valued at $836,107,000 after buying an additional 47,433 shares in the last quarter. Coign Capital Advisors LLC lifted its position in Honeywell International by 29.7% during the first quarter. Coign Capital Advisors LLC now owns 2,495 shares of the conglomerate's stock valued at $528,000 after buying an additional 572 shares in the last quarter. Finally, Provident Investment Management Inc. lifted its position in Honeywell International by 51.6% during the first quarter. Provident Investment Management Inc. now owns 3,315 shares of the conglomerate's stock valued at $702,000 after buying an additional 1,128 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company's stock.

Honeywell International Price Performance

HON stock traded down $0.25 during trading on Friday, hitting $216.33. The company had a trading volume of 3,058,993 shares, compared to its average volume of 3,795,408. The firm has a market capitalization of $137.35 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 2.44 and a beta of 1.08. The business has a 50 day moving average of $228.66 and a 200 day moving average of $216.95. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $10.01 billion. During the same period in the prior year, the firm earned $2.49 earnings per share. The business's quarterly revenue was up 8.1% on a year-over-year basis. As a group, research analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders 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 dividend on an annualized basis and a yield of 2.1%. Honeywell International's payout ratio is 51.42%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Honeywell International from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Morgan Stanley boosted their target price 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. Bank of America raised shares of Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 target price on the stock in a research report on Wednesday, May 7th. Finally, Barclays lifted their price target on shares of Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Eight 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $254.00.

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.