Public Sector Pension Investment Board Acquires 54,920 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• The Public Sector Pension Investment Board increased its stake in Honeywell International by 67.3%, acquiring an additional 54,920 shares for a total of 136,474 shares worth about $28.9 million.
• Analyst ratings for Honeywell show eight hold ratings, nine buy ratings, and one strong buy, with an average target price of $254.00.
• Honeywell reported a quarterly earnings per share (EPS) of $2.75, exceeding estimates, with revenue of $10.35 billion, marking an 8.1% increase year over year.

Public Sector Pension Investment Board increased its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 67.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 136,474 shares of the conglomerate's stock after purchasing an additional 54,920 shares during the period. Public Sector Pension Investment Board's holdings in Honeywell International were worth $28,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HON. Maia Wealth LLC increased its position in shares of Honeywell International by 4.1% during the first quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate's stock worth $238,000 after acquiring an additional 47 shares in the last quarter. Kirtland Hills Capital Management LLC increased its position in shares of Honeywell International by 1.1% during the first quarter. Kirtland Hills Capital Management LLC now owns 4,424 shares of the conglomerate's stock worth $870,000 after acquiring an additional 48 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its position in shares of Honeywell International by 0.6% during the first quarter. Sound View Wealth Advisors Group LLC now owns 8,769 shares of the conglomerate's stock worth $1,857,000 after acquiring an additional 48 shares in the last quarter. Gateway Wealth Partners LLC increased its position in shares of Honeywell International by 2.5% during the first quarter. Gateway Wealth Partners LLC now owns 2,044 shares of the conglomerate's stock worth $433,000 after acquiring an additional 49 shares in the last quarter. Finally, Cetera Trust Company N.A increased its position in shares of Honeywell International by 0.5% during the first quarter. Cetera Trust Company N.A now owns 10,475 shares of the conglomerate's stock worth $2,218,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company's stock.

Honeywell International Stock Performance

Shares of NASDAQ HON traded up $0.56 during mid-day trading on Tuesday, reaching $217.01. 4,340,984 shares of the company were exchanged, compared to its average volume of 3,802,513. The company's 50-day simple moving average is $228.28 and its 200-day simple moving average is $216.81. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $137.78 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.44 and a beta of 1.08. Honeywell International Inc. has a twelve month low of $179.36 and a twelve month high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its 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 company had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.01 billion. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. Honeywell International's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.49 EPS. 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 business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, August 15th. Honeywell International's dividend payout ratio (DPR) is currently 51.42%.

Analyst Upgrades and Downgrades

HON has been the subject of several research reports. Barclays increased their price objective on shares of Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Citigroup increased their target price on shares of Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded shares of Honeywell International from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Wells Fargo & Company reduced their target price on shares of Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Honeywell International from $182.00 to $217.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.00.

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.