Mediolanum International Funds Ltd Acquires 1,117 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• Mediolanum International Funds Ltd increased its stake in Honeywell International Inc. by 2.6%, owning 43,871 shares valued at approximately $9.23 million, according to its latest 13F filing.
• Several institutional investors significantly boosted their holdings in Honeywell during the last quarter, indicating strong institutional interest in the stock, which is now owned 75.91% by institutional investors.
• Honeywell reported earnings of $2.75 per share, surpassing analysts' expectations, and announced a quarterly dividend of $1.13, representing a 2.02% yield.

Mediolanum International Funds Ltd boosted its position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,871 shares of the conglomerate's stock after buying an additional 1,117 shares during the quarter. Mediolanum International Funds Ltd's holdings in Honeywell International were worth $9,228,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. World Investment Advisors increased its holdings in Honeywell International by 137.7% during the 4th quarter. World Investment Advisors now owns 22,387 shares of the conglomerate's stock worth $5,057,000 after purchasing an additional 12,969 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Honeywell International by 12.7% in the 4th quarter. Schroder Investment Management Group now owns 89,297 shares of the conglomerate's stock valued at $20,235,000 after acquiring an additional 10,092 shares in the last quarter. Red Door Wealth Management LLC grew its holdings in shares of Honeywell International by 2.6% in the 1st quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate's stock valued at $6,160,000 after acquiring an additional 736 shares in the last quarter. Potomac Fund Management Inc. ADV bought a new position in shares of Honeywell International in the 4th quarter valued at about $1,722,000. Finally, Petros Family Wealth LLC bought a new position in shares of Honeywell International in the 4th quarter valued at about $383,000. Institutional investors and hedge funds own 75.91% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HON. JPMorgan Chase & Co. raised their price objective on Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Barclays raised their price objective on Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Wells Fargo & Company decreased their price objective on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a report on Friday, July 25th. Citigroup raised their target price on shares of Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada cut their target price on shares of Honeywell International from $254.00 to $253.00 and set a "sector perform" rating for the company in a research note on Friday, July 25th. Eight 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.00.

Honeywell International Price Performance

Shares of NASDAQ HON traded up $2.54 during midday trading on Wednesday, reaching $224.26. The company's stock had a trading volume of 1,464,205 shares, compared to its average volume of 4,132,168. The business's 50 day moving average price is $229.35 and its two-hundred day moving average price is $217.03. The company has a market cap of $144.13 billion, a P/E ratio of 25.48, a P/E/G ratio of 2.58 and a beta of 1.07. 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 fifty-two week low of $179.36 and a fifty-two week high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.09. The business had revenue of $10.35 billion for 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%. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $2.49 earnings per share. On average, analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Dividend Announcement

The business 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 dividend of $1.13 per share. The ex-dividend date is Friday, August 15th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.02%. Honeywell International's payout ratio is presently 51.42%.

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.