Honeywell International Inc. (NYSE:HON) saw a large decrease in short interest in October. As of October 30th, there was short interest totalling 4,100,000 shares, a decrease of 14.8% from the October 15th total of 4,810,000 shares. Based on an average daily volume of 3,190,000 shares, the short-interest ratio is currently 1.3 days. Approximately 0.6% of the company's shares are short sold.
In other Honeywell International news, CEO Rajeev Gautam sold 29,606 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $182.35, for a total transaction of $5,398,654.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director D Scott Davis sold 2,111 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $198.86, for a total transaction of $419,793.46. In the last ninety days, insiders bought 773,949 shares of company stock valued at $2,987,675 and sold 51,717 shares valued at $9,097,448. 0.64% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in HON. Campbell Wealth Management acquired a new stake in Honeywell International during the second quarter worth approximately $26,000. Crewe Advisors LLC raised its holdings in shares of Honeywell International by 73.0% in the third quarter. Crewe Advisors LLC now owns 173 shares of the conglomerate's stock valued at $28,000 after buying an additional 73 shares during the last quarter. Catalyst Private Wealth LLC purchased a new position in Honeywell International during the third quarter worth about $29,000. Baltimore Washington Financial Advisors Inc. purchased a new position in Honeywell International during the second quarter worth about $33,000. Finally, Rockbridge Investment Management LCC purchased a new position in Honeywell International during the second quarter worth about $33,000. 75.30% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the stock. Bank of America increased their price target on shares of Honeywell International from $180.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, November 5th. Barclays restated a "buy" rating on shares of Honeywell International in a report on Sunday, July 26th. HSBC lowered shares of Honeywell International from a "buy" rating to a "hold" rating and set a $200.00 price objective for the company. in a report on Tuesday, November 17th. Jefferies Financial Group lowered shares of Honeywell International from a "buy" rating to a "hold" rating and upped their price objective for the stock from $190.00 to $210.00 in a report on Wednesday. They noted that the move was a valuation call. Finally, Cowen initiated coverage on shares of Honeywell International in a report on Sunday, July 26th. They issued a "buy" rating and a $160.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company's stock. The stock currently has a consensus rating of "Hold" and an average price target of $171.56.
Honeywell International stock opened at $202.00 on Friday. The firm has a market cap of $141.74 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 3.31 and a beta of 1.01. Honeywell International has a 52 week low of $101.08 and a 52 week high of $210.00. The business's 50-day moving average price is $178.93 and its 200 day moving average price is $158.35. The company has a quick ratio of 1.37, a current ratio of 1.64 and a debt-to-equity ratio of 0.97.
Honeywell International (NYSE:HON) last announced its quarterly earnings data on Friday, October 30th. The conglomerate reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.07. The company had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.65 billion. Honeywell International had a return on equity of 27.69% and a net margin of 14.99%. The firm's revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. Equities analysts expect that Honeywell International will post 7.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.93 per share. The ex-dividend date is Thursday, November 12th. This represents a $3.72 dividend on an annualized basis and a yield of 1.84%. This is a boost from Honeywell International's previous quarterly dividend of $0.90. Honeywell International's dividend payout ratio (DPR) is presently 45.59%.
About Honeywell International
Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. The 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; thermal systems; and connected solutions and data services for the aftermarket, as well as wireless connectivity, and management and technical services.
Read More: Channel Trading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Stocks That Could Provide a Year-End Rally
It’s rough in the markets right now. Underlying the volatility is uncertainty. The VIX Index (INDEXCBOE: VIX) otherwise known as the Fear Index is unofficial, but an eerily accurate predictor of market sentiment. And the VIX is up 30% in the last month.
Is this uncertainty due to concerns over additional lockdown measures? Is it about the lack of additional coronavirus stimulus? Is the market reacting to a surge in jobless claims? Or is this just the somewhat normal volatility that comes in an election year that promises to be like none in American history.
The answer is all of the above and then some. But does that mean you should stay out of equities? I don’t think so. Where are you going to go? The Fed has promised interest rates are going nowhere fast. And that bit of news is weighing down the bond market.
So stocks it is. But although growth-seeking investors may be tempted to look at the tech sector to see what’s on sale today, I suggest taking a more targeted approach. Rather than looking at a single sector, try to look at solid performers in different sectors that may be ready to surge over the last three months.
The pandemic brought the entire market down. But once investors took a breath they found bargains. And if you had the courage to put your money to work in those stocks, you’ve been rewarded.
Times like these call for the same type of courage. And that’s why we’ve put together this special presentation with seven stocks that look ready to surprise investors with nice end-of-year gains.
View the "7 Stocks That Could Provide a Year-End Rally".