Mitsubishi UFJ Asset Management Co. Ltd. Acquires 155,663 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Honeywell International by 11.8%, owning approximately 1.48 million shares valued at $312.7 million as of the latest 13F filing.
• Wall Street analysts are optimistic about Honeywell International's performance, with eight analysts rating it as a "hold," nine as a "buy," and one giving it a "strong buy" rating.
• Honeywell has announced a quarterly dividend of $1.13 per share, set to be paid on September 5th, representing a 2.1% yield based on the current price.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 11.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,476,731 shares of the conglomerate's stock after purchasing an additional 155,663 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.23% of Honeywell International worth $312,724,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC purchased a new position in Honeywell International in the fourth quarter valued at approximately $29,000. Accredited Wealth Management LLC purchased a new position in Honeywell International in the fourth quarter valued at approximately $34,000. Alexis Investment Partners LLC purchased a new position in Honeywell International in the fourth quarter valued at approximately $37,000. Banque de Luxembourg S.A. purchased a new stake in shares of Honeywell International during the fourth quarter worth $38,000. Finally, Garde Capital Inc. purchased a new stake in shares of Honeywell International during the first quarter worth $42,000. 75.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on HON. Royal Bank Of Canada dropped their target price on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a research report on Friday, July 25th. Mizuho increased their target price on Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Citigroup increased their target price on Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded Honeywell International from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company lowered their price objective on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating on the stock in a research report on Friday, July 25th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Honeywell International currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.00.

Honeywell International Stock Down 0.1%

HON traded down $0.25 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 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 Inc. has a 52-week low of $179.36 and a 52-week high of $242.77. The stock has a fifty day simple moving average of $228.66 and a 200-day simple moving average of $216.95. The firm has a market capitalization of $137.35 billion, a P/E ratio of 24.61, a P/E/G ratio of 2.44 and a beta of 1.08.

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

Honeywell International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a dividend of $1.13 per share. The ex-dividend date of this dividend 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 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.