Morningstar Investment Management LLC Buys New Position in Honeywell International Inc. $HON

Key Points

• Morningstar Investment Management LLC acquired a new position in Honeywell International Inc. by purchasing 5,850 shares worth approximately $1.36 million during Q2.
• The company's recent quarterly earnings showed an EPS of $2.25 and a revenue of $8.95 billion, with positive Q4 2023 guidance set at 2.530-2.630 EPS.
• Honeywell International announced an increase in its quarterly dividend to $1.19 per share, reflecting a positive change from the previous $1.13 dividend.

Morningstar Investment Management LLC bought a new stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,850 shares of the conglomerate's stock, valued at approximately $1,362,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chung Wu Investment Group LLC bought a new position in Honeywell International in the second quarter worth approximately $26,000. RMG Wealth Management LLC bought a new position in Honeywell International in the second quarter worth approximately $33,000. Pandora Wealth Inc. bought a new position in Honeywell International in the first quarter worth approximately $33,000. Dogwood Wealth Management LLC boosted its holdings in Honeywell International by 143.9% in the second quarter. Dogwood Wealth Management LLC now owns 161 shares of the conglomerate's stock worth $39,000 after acquiring an additional 95 shares in the last quarter. Finally, 1248 Management LLC bought a new position in Honeywell International in the first quarter worth approximately $38,000. Institutional investors own 75.91% of the company's stock.

Honeywell International Stock Performance

Shares of HON opened at $202.91 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $128.83 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 2.25 and a beta of 1.06. The stock has a 50 day moving average of $213.75 and a 200 day moving average of $217.20. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last issued its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The company had revenue of $8.95 billion during the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. 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, sell-side analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Honeywell International's previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.3%. Honeywell International's dividend payout ratio (DPR) is 51.42%.

Analysts Set New Price Targets

Several research analysts have issued reports on HON shares. Deutsche Bank Aktiengesellschaft increased their price target on Honeywell International from $268.00 to $271.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Barclays increased their price target on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Morgan Stanley raised their target price on Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. 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 report on Friday, July 25th. Finally, Jefferies Financial Group dropped their target price on Honeywell International from $240.00 to $230.00 and set a "hold" rating on the stock in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $251.80.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the 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 completion of the sale, the chief executive officer directly owned 10,334 shares of the company's stock, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.41% of the company's stock.

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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