Resona Asset Management Co. Ltd. Boosts Stake in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Resona Asset Management Co. Ltd. has increased its holdings in Honeywell International by 8.0% during the first quarter, now owning a total of 205,330 shares valued at approximately $43.4 million.
• Honeywell International recently reported a quarterly earnings per share of $2.75, exceeding analysts' expectations by $0.09 and showing a year-over-year revenue increase of 8.1%.
• The company's upcoming quarterly dividend of $1.13 per share will be paid to shareholders of record as of August 15th, representing an annualized yield of 2.1%.

Resona Asset Management Co. Ltd. boosted its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 205,330 shares of the conglomerate's stock after buying an additional 15,266 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Honeywell International were worth $43,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Red Door Wealth Management LLC lifted its stake in shares of 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 period. Spinnaker Trust increased its position in Honeywell International by 2.4% in the 1st quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate's stock valued at $2,456,000 after buying an additional 276 shares in the last quarter. Beacon Financial Group increased its position in Honeywell International by 52.6% in the 1st quarter. Beacon Financial Group now owns 3,759 shares of the conglomerate's stock valued at $796,000 after buying an additional 1,295 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd increased its position in Honeywell International by 40.5% in the 1st quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 28,800 shares of the conglomerate's stock valued at $6,098,000 after buying an additional 8,300 shares in the last quarter. Finally, Codex Capital Asset Management L.L.C. bought a new stake in Honeywell International in the 1st quarter valued at about $5,294,000. 75.91% of the stock is owned by institutional investors and hedge funds.

Honeywell International Stock Down 0.7%

Shares of HON traded down $1.43 on Friday, hitting $216.77. 2,740,896 shares of the stock traded hands, compared to its average volume of 3,965,734. The company has a market capitalization of $137.63 billion, a PE ratio of 24.66, a P/E/G ratio of 2.46 and a beta of 1.08. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29. The business has a 50 day simple moving average of $227.72 and a 200 day simple moving average of $216.75. Honeywell International Inc. has a one year low of $179.36 and a one year high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its earnings results on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, topping 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 business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.01 billion. During the same quarter in the previous year, the firm posted $2.49 EPS. The firm's revenue was up 8.1% on a year-over-year basis. As a group, equities analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 15th. Honeywell International's payout ratio is 51.42%.

Analyst Ratings Changes

HON has been the subject of a number of recent research reports. Mizuho boosted their price objective on Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Wall Street Zen upgraded Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley upped their price objective on Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Wells Fargo & Company dropped their target price on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating on the stock in a research report on Friday, July 25th. Finally, Royal Bank Of Canada lowered their price objective 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. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Honeywell International currently has a consensus rating of "Moderate Buy" and an average price target of $254.00.

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.