IFP Advisors Inc Has $5.83 Million Position in Honeywell International Inc. $HON

Key Points

• IFP Advisors Inc increased its stake in Honeywell International Inc. by 43.3%, owning 23,739 shares worth approximately $5.83 million after acquiring additional shares in the second quarter.
• Honeywell's CEO, Lucian Boldea, sold 42,149 shares for around $9.34 million, significantly reducing his position by over 80% to 10,334 shares.
• The company announced a quarterly dividend increase to $1.19 per share, with a dividend yield of 2.3%, reflecting a strong financial commitment to its shareholders.

IFP Advisors Inc raised its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 43.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,739 shares of the conglomerate's stock after buying an additional 7,168 shares during the quarter. IFP Advisors Inc's holdings in Honeywell International were worth $5,831,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HON. Nuveen LLC acquired a new position in shares of Honeywell International during the 1st quarter worth about $1,150,929,000. Wellington Management Group LLP grew its position in shares of Honeywell International by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate's stock worth $3,335,476,000 after buying an additional 1,293,137 shares during the period. Alliancebernstein L.P. grew its position in shares of Honeywell International by 64.6% during the 1st quarter. Alliancebernstein L.P. now owns 2,652,344 shares of the conglomerate's stock worth $561,634,000 after buying an additional 1,041,273 shares during the period. Vista Cima Wealth Management LLC acquired a new position in shares of Honeywell International in the 1st quarter valued at approximately $164,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Honeywell International by 592.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate's stock valued at $183,728,000 after purchasing an additional 742,281 shares during the period. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Lucian Boldea sold 42,149 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the sale, the chief executive officer owned 10,334 shares in the company, valued at $2,289,807.72. This represents a 80.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HON shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Honeywell International in a research report on Wednesday. Morgan Stanley boosted their price objective on Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Wells Fargo & Company decreased their price objective on Honeywell International from $230.00 to $220.00 and set an "equal weight" rating for the company in a research report on Monday. Barclays boosted their price objective on Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Finally, TD Cowen decreased their price objective on Honeywell International from $260.00 to $250.00 in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $251.80.

Honeywell International Trading Down 2.7%

NASDAQ HON opened at $204.23 on Friday. The stock has a market capitalization of $129.67 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.35 and a beta of 1.06. The stock's 50 day moving average price is $214.45 and its two-hundred day moving average price is $217.28. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last released its earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%.The firm had revenue of $8.95 billion for the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. As a group, analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.19 per share. The ex-dividend date is Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Honeywell International's previous quarterly dividend of $1.13. Honeywell International's dividend payout ratio (DPR) is currently 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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