Polar Asset Management Partners Inc. Invests $49.02 Million in Honeywell International Inc. (NASDAQ:HON)

Polar Asset Management Partners Inc. purchased a new stake in Honeywell International Inc. (NASDAQ:HON) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 217,000 shares of the conglomerate’s stock, valued at approximately $49,018,000.

Other hedge funds also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in shares of Honeywell International in the 4th quarter valued at about $25,000. Avalon Trust Co increased its stake in Honeywell International by 166.7% in the 4th quarter. Avalon Trust Co now owns 120 shares of the conglomerate’s stock valued at $27,000 after buying an additional 75 shares during the period. Hoese & Co LLP purchased a new stake in Honeywell International in the 4th quarter worth approximately $30,000. Accredited Wealth Management LLC acquired a new stake in shares of Honeywell International during the 4th quarter valued at $34,000. Finally, Curio Wealth LLC purchased a new position in shares of Honeywell International during the 4th quarter valued at $35,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HON has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised Honeywell International from a “hold” rating to a “buy” rating and raised their price target for the stock from $236.00 to $260.00 in a research note on Friday, February 7th. Wells Fargo & Company boosted their target price on shares of Honeywell International from $205.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Citigroup cut their price target on shares of Honeywell International from $253.00 to $229.00 and set a “buy” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on shares of Honeywell International from $205.00 to $178.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America raised Honeywell International from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Wednesday, May 7th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.23.

Honeywell International Stock Down 0.5%

HON opened at $217.18 on Thursday. The business has a 50 day moving average of $205.65 and a 200-day moving average of $215.45. The stock has a market capitalization of $139.58 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 2.51 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 1.01 and a debt-to-equity ratio of 1.33. Honeywell International Inc. has a 1-year low of $179.36 and a 1-year high of $242.77.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Tuesday, April 29th. The conglomerate reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.30. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.59 billion. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $2.25 EPS. As a group, sell-side analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $1.13 dividend. The ex-dividend date is Friday, May 16th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.08%. Honeywell International’s dividend payout ratio is currently 51.95%.

Honeywell International Company 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.