Nuveen LLC Takes $1.15 Billion Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Nuveen LLC acquired approximately 5.4 million shares of Honeywell International Inc. for around $1.15 billion, representing a 0.85% ownership stake at the end of the latest reporting period.
• Several hedge funds, including Vanguard and Goldman Sachs, have increased their holdings in Honeywell, with institutional investors owning 75.91% of the company's stock.
• Honeywell reported a quarterly earnings per share (EPS) of $2.75, exceeding analyst estimates of $2.66, alongside a revenue increase of 8.1% year-over-year to $10.35 billion.

Nuveen LLC purchased a new position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,435,320 shares of the conglomerate's stock, valued at approximately $1,150,929,000. Nuveen LLC owned about 0.85% of Honeywell International as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HON. Capital World Investors purchased a new position in shares of Honeywell International in the fourth quarter worth about $1,594,216,000. GAMMA Investing LLC increased its stake in Honeywell International by 20,894.0% in the 1st quarter. GAMMA Investing LLC now owns 1,326,614 shares of the conglomerate's stock worth $2,809,110,000 after purchasing an additional 1,320,295 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Honeywell International by 592.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate's stock worth $183,728,000 after purchasing an additional 742,281 shares during the last quarter. Demars Financial Group LLC bought a new stake in Honeywell International during the 4th quarter valued at $155,407,000. Finally, Leigh Baldwin & CO. LLC bought a new stake in Honeywell International in the 4th quarter worth $123,294,000. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HON has been the subject of a number of research analyst reports. Mizuho raised their price target on Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Wells Fargo & Company reduced their price target 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 lifted their price objective on Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. 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. Finally, Morgan Stanley increased their target price on Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $254.00.

Honeywell International Stock Performance

HON stock traded up $0.56 on Tuesday, hitting $217.01. The company's stock had a trading volume of 4,340,984 shares, compared to its average volume of 3,802,513. The stock has a market cap of $137.78 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 2.44 and a beta of 1.08. Honeywell International Inc. has a 1 year low of $179.36 and a 1 year high of $242.77. The firm has a 50 day moving average of $228.48 and a two-hundred day moving average of $216.81. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81.

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, topping the consensus estimate of $2.66 by $0.09. The company had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.01 billion. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 EPS. Equities analysts predict that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Announces Dividend

The firm also recently declared 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. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 15th. Honeywell International's dividend payout ratio 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.