Prospector Partners LLC Buys New Stake in Honeywell International Inc. $HON

Key Points

• Prospector Partners LLC has acquired a new stake in Honeywell International, purchasing 49,323 shares valued at approximately $10.4 million during the 1st quarter.
• Several institutional investors, including Nuveen LLC and GAMMA Investing LLC, have significantly increased their positions in Honeywell International, highlighting strong institutional interest in the stock, which now has over 75% ownership by institutions.
• Honeywell International's stock has received various analyst upgrades, with the average target price raised to $254.00, reflecting an overall positive outlook among analysts.

Prospector Partners LLC bought a new stake in Honeywell International Inc. (NASDAQ:HON - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 49,323 shares of the conglomerate's stock, valued at approximately $10,444,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new position in Honeywell International in the 1st quarter valued at approximately $1,150,929,000. GAMMA Investing LLC boosted its position 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 valued at $2,809,110,000 after buying an additional 1,320,295 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Honeywell International by 592.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate's stock valued at $183,728,000 after buying an additional 742,281 shares during the period. Leigh Baldwin & CO. LLC purchased a new position in Honeywell International in the 4th quarter valued at approximately $123,294,000. Finally, Goldman Sachs Group Inc. boosted its position in Honeywell International by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate's stock valued at $1,278,563,000 after buying an additional 505,083 shares during the period. Institutional investors and hedge funds own 75.91% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HON shares. Wall Street Zen raised shares of Honeywell International from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Mizuho raised their price target on shares of Honeywell International from $235.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Citigroup raised their price target on shares of Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Wells Fargo & Company decreased their price target on shares of Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a research report on Friday, July 25th. Finally, Royal Bank Of Canada decreased their price target on shares of Honeywell International from $254.00 to $253.00 and set a "sector perform" rating for the company in a research report on Friday, July 25th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $254.00.

Honeywell International Price Performance

Honeywell International stock opened at $216.77 on Monday. The stock has a market cap of $137.63 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 2.45 and a beta of 1.08. The company has a fifty day simple moving average of $227.72 and a 200-day simple moving average of $216.67. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77. 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 announced its quarterly earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $10.01 billion. During the same period in the previous year, the company earned $2.49 earnings per share. Honeywell International's quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts expect that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Dividend Announcement

The business 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 $1.13 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.52 dividend on an annualized basis and a yield of 2.1%. Honeywell International's payout ratio is 51.42%.

Honeywell International Company 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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