Turtle Creek Wealth Advisors LLC Acquires Shares of 7,395 Honeywell International Inc. $HON

Key Points

• Turtle Creek Wealth Advisors LLC has acquired 7,395 shares of Honeywell International Inc., valued at approximately $1.72 million, during the 2nd quarter.
• CEO Lucian Boldea sold 42,149 shares of Honeywell stock, reducing his ownership by over 80% and receiving approximately $9.34 million from the sale.
• Honeywell International announced an increase in its quarterly dividend to $1.19, representing a boost from the previous $1.13, with an annualized yield of 2.4%.

Turtle Creek Wealth Advisors LLC bought a new position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,395 shares of the conglomerate's stock, valued at approximately $1,722,000.

Several other large investors also recently modified their holdings of HON. Nuveen LLC acquired a new stake in shares of Honeywell International during the 1st quarter worth $1,150,929,000. Wellington Management Group LLP grew its holdings in shares of Honeywell International by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate's stock worth $3,335,476,000 after purchasing an additional 1,293,137 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Honeywell International by 64.6% during the 1st quarter. Alliancebernstein L.P. now owns 2,652,344 shares of the conglomerate's stock worth $561,634,000 after purchasing an additional 1,041,273 shares in the last quarter. Vista Cima Wealth Management LLC acquired a new stake in shares of Honeywell International during the 1st quarter worth $164,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Honeywell International by 592.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate's stock worth $183,728,000 after purchasing an additional 742,281 shares in the last quarter. 75.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 10,334 shares in the company, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.

Honeywell International Price Performance

Honeywell International stock opened at $202.50 on Thursday. 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 company has a market capitalization of $128.57 billion, a PE ratio of 23.04, a P/E/G ratio of 2.34 and a beta of 1.06. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77. The stock has a 50-day moving average price of $213.17 and a two-hundred day moving average price of $217.04.

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 firm 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. Analysts expect that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The company 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 $1.19 dividend. This is a boost from Honeywell International's previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, November 14th. Honeywell International's dividend payout ratio is 51.42%.

Analysts Set New Price Targets

Several analysts have recently issued reports on HON shares. JPMorgan Chase & Co. reduced their target price on Honeywell International from $222.00 to $212.00 and set a "neutral" rating on the stock in a report on Wednesday. Barclays increased their target price on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. TD Cowen reduced their target price on Honeywell International from $260.00 to $250.00 in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Honeywell International in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced their price objective on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $251.67.

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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