Pittenger & Anderson Inc. Raises Position in Honeywell International Inc. $HON

Key Points

• Pittenger & Anderson Inc. increased its position in Honeywell International by 5.3% during the second quarter, owning a total of 72,314 shares valued at approximately $16.84 million.
• Honeywell International recently announced a quarterly dividend increase from $1.13 to $1.19 per share, representing an annualized yield of 2.3%.
• The company reported earnings of $2.25 per share for the latest quarter, with revenue of $8.95 billion and has set Q4 2023 EPS guidance between $2.530 and $2.630.

Pittenger & Anderson Inc. grew its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,314 shares of the conglomerate's stock after acquiring an additional 3,638 shares during the period. Pittenger & Anderson Inc.'s holdings in Honeywell International were worth $16,840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chung Wu Investment Group LLC purchased a new stake in shares of Honeywell International in the second quarter valued at about $26,000. Pandora Wealth Inc. purchased a new stake in shares of Honeywell International in the first quarter valued at about $33,000. RMG Wealth Management LLC purchased a new stake in shares of Honeywell International in the second quarter valued at about $33,000. Activest Wealth Management boosted its holdings in shares of Honeywell International by 425.9% in the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate's stock valued at $33,000 after acquiring an additional 115 shares in the last quarter. Finally, 1248 Management LLC acquired a new stake in shares of Honeywell International in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 75.91% of the company's stock.

Honeywell International Stock Performance

Shares of HON opened at $206.03 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 stock has a market cap of $130.81 billion, a P/E ratio of 23.44, a PEG ratio of 2.52 and a beta of 1.06. The company has a 50-day moving average of $212.43 and a two-hundred day moving average of $217.09. 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 announced its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The company had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. 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, research analysts predict that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a dividend of $1.19 per share. The ex-dividend date is Friday, November 14th. This is an increase from Honeywell International's previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a yield of 2.3%. Honeywell International's dividend payout ratio (DPR) is presently 54.15%.

Analyst Ratings Changes

Several analysts recently commented on HON shares. Wells Fargo & Company reduced their price objective on shares of Honeywell International from $230.00 to $220.00 and set an "equal weight" rating for the company in a research note on Monday, October 6th. Morgan Stanley raised their price objective on shares of Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Robert W. Baird reduced their price objective on shares of Honeywell International from $250.00 to $220.00 and set a "neutral" rating for the company in a research note on Monday, October 13th. Barclays raised their price objective on shares of Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, TD Cowen reduced their price objective on shares of Honeywell International from $260.00 to $250.00 in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Honeywell International has an average rating of "Moderate Buy" and a consensus target price of $251.67.

Insider Transactions at Honeywell International

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the transaction, the chief executive officer owned 10,334 shares in the company, valued at approximately $2,289,807.72. The trade was a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company's stock.

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.

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