Sit Investment Associates Inc. Grows Holdings in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Sit Investment Associates Inc. increased its holdings in Honeywell International by 48.7% in the first quarter, owning a total of 87,681 shares valued at approximately $18.6 million.
• Multiple institutional investors, including Vanguard Group and Goldman Sachs, have also made significant adjustments to their stakes in Honeywell, with hedge funds now holding 75.91% of the company's stock.
• Honeywell International recently reported a quarterly EPS of $2.75, exceeding estimates, and announced a dividend of $1.13 per share, reflecting a 2.1% yield.

Sit Investment Associates Inc. grew its holdings in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 48.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,681 shares of the conglomerate's stock after buying an additional 28,716 shares during the quarter. Sit Investment Associates Inc.'s holdings in Honeywell International were worth $18,566,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HON. Vanguard Group Inc. increased its position in Honeywell International by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate's stock worth $13,172,852,000 after buying an additional 447,744 shares during the period. Capital World Investors acquired a new position in shares of Honeywell International during the fourth quarter valued at $1,594,216,000. Capital Research Global Investors increased its holdings in shares of Honeywell International by 5.5% during the fourth quarter. Capital Research Global Investors now owns 6,641,017 shares of the conglomerate's stock valued at $1,500,141,000 after purchasing an additional 346,190 shares during the period. Northern Trust Corp increased its holdings in shares of Honeywell International by 5.7% during the fourth quarter. Northern Trust Corp now owns 6,253,570 shares of the conglomerate's stock valued at $1,412,619,000 after purchasing an additional 337,199 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Honeywell International by 9.1% during the first 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 in the last quarter. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HON. Citigroup raised their target price on Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 target price for the company in a research note on Wednesday, May 7th. Mizuho raised their target price on Honeywell International from $235.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their target price on Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Royal Bank Of Canada decreased their target price on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating for the company in a research note on Friday, July 25th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $254.00.

Honeywell International Stock Up 1.3%

HON opened at $219.74 on Thursday. The business has a 50 day moving average price of $228.13 and a 200 day moving average price of $216.83. Honeywell International Inc. has a twelve month low of $179.36 and a twelve month high of $242.77. 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 firm has a market cap of $139.51 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 2.45 and a beta of 1.08.

Honeywell International (NASDAQ:HON - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. The company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.01 billion. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.49 EPS. Research analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Announces Dividend

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

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.

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