RFG Advisory LLC Grows Position in Honeywell International Inc. $HON

Key Points

• RFG Advisory LLC has increased its stake in Honeywell International Inc. by 55.9% during the second quarter, now holding 3,622 shares valued at $844,000.
• Honeywell International announced a quarterly dividend increase to $1.19, providing an annualized dividend yield of 2.3%, with the ex-dividend date set for November 14th.
• Analysts have adjusted their price targets for Honeywell International, with JPMorgan lowering its target from $222.00 to $212.00 and several others also revising their estimates downward.

RFG Advisory LLC increased its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 55.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,622 shares of the conglomerate's stock after purchasing an additional 1,298 shares during the quarter. RFG Advisory LLC's holdings in Honeywell International were worth $844,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 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. Amundi lifted its stake in shares of Honeywell International by 30.2% in the 1st quarter. Amundi now owns 519,882 shares of the conglomerate's stock valued at $107,450,000 after purchasing an additional 120,706 shares during the period. Spinnaker Trust lifted its stake in shares of 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 purchasing an additional 276 shares during the period. Baxter Bros Inc. increased its position in Honeywell International by 14.6% during the 2nd quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate's stock valued at $8,321,000 after buying an additional 4,543 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in Honeywell International by 11.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 28,502 shares of the conglomerate's stock valued at $6,035,000 after buying an additional 2,915 shares in the last quarter. Hedge funds and other institutional investors own 75.91% of the company's stock.

Honeywell International Stock Up 0.3%

Honeywell International stock opened at $203.17 on Friday. The firm has a market cap of $128.99 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.28 and a beta of 1.06. The stock has a fifty day simple moving average of $212.90 and a two-hundred day simple moving average of $216.98. 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 posted its earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The business had revenue of $8.95 billion during the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. Equities 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 issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Honeywell International's previous quarterly dividend of $1.13. Honeywell International's dividend payout ratio is 51.42%.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the completion of the sale, the chief executive officer owned 10,334 shares of the company's stock, valued at $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 available at this link. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Honeywell International from $222.00 to $212.00 and set a "neutral" rating for the company in a research report on Wednesday. Wells Fargo & Company reduced their price objective on Honeywell International from $230.00 to $220.00 and set an "equal weight" rating for the company in a research report on Monday, October 6th. Royal Bank Of Canada reduced their price objective on 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. TD Cowen reduced their price objective on Honeywell International from $260.00 to $250.00 in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Honeywell International in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $251.67.

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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