OVERSEA CHINESE BANKING Corp Ltd Acquires 742,281 Shares of Honeywell International Inc. (NASDAQ:HON)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 592.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 867,665 shares of the conglomerate's stock after buying an additional 742,281 shares during the quarter. Honeywell International accounts for about 0.9% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 24th biggest position. OVERSEA CHINESE BANKING Corp Ltd owned 0.13% of Honeywell International worth $183,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HON. World Investment Advisors lifted its holdings in shares of Honeywell International by 137.7% during the fourth 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 during the period. Schroder Investment Management Group boosted its holdings in Honeywell International by 12.7% in the 4th quarter. Schroder Investment Management Group now owns 89,297 shares of the conglomerate's stock worth $20,235,000 after buying an additional 10,092 shares during the last quarter. Red Door Wealth Management LLC raised its stake in 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 purchasing an additional 736 shares during the last quarter. Potomac Fund Management Inc. ADV acquired a new position in Honeywell International during the fourth quarter worth about $1,722,000. Finally, Petros Family Wealth LLC purchased a new position in Honeywell International during the fourth quarter worth approximately $383,000. Hedge funds and other institutional investors own 75.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HON shares. Citigroup lifted their price target on Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada reissued a "sector perform" rating and set a $226.00 price target on shares of Honeywell International in a research report on Wednesday, June 25th. Wells Fargo & Company upped their price target on shares of Honeywell International from $225.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. upped their target price on Honeywell International from $182.00 to $217.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded Honeywell International from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $250.79.

Honeywell International Price Performance

HON stock traded up $1.58 during trading on Wednesday, hitting $236.88. The company had a trading volume of 2,823,413 shares, compared to its average volume of 3,857,777. The company has a market cap of $152.24 billion, a P/E ratio of 27.23, a P/E/G ratio of 2.71 and a beta of 1.07. The company has a fifty day moving average price of $226.82 and a two-hundred day moving average price of $216.42. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77. The company has a current ratio of 1.25, a quick ratio of 0.95 and a debt-to-equity ratio of 1.43.

Honeywell International (NASDAQ:HON - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The conglomerate reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.30. Honeywell International had a return on equity of 36.19% and a net margin of 14.51%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.59 billion. During the same period in the prior year, the company earned $2.25 EPS. Honeywell International's revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.52 dividend on an annualized basis and a yield of 1.91%. Honeywell International's payout ratio is presently 51.95%.

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.