Vestmark Advisory Solutions Inc. Takes $2.95 Million Position in Honeywell International Inc. $HON

Vestmark Advisory Solutions Inc. purchased a new stake in Honeywell International Inc. (NASDAQ:HON) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,672 shares of the conglomerate’s stock, valued at approximately $2,951,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Chung Wu Investment Group LLC purchased a new position in shares of Honeywell International in the second quarter worth approximately $26,000. Pandora Wealth Inc. acquired a new position in Honeywell International in the 1st quarter worth approximately $33,000. RMG Wealth Management LLC purchased a new position in Honeywell International during the 2nd quarter worth approximately $33,000. Activest Wealth Management grew its position in Honeywell International by 425.9% during the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Finally, 1248 Management LLC acquired a new stake in Honeywell International during the 1st quarter valued at $38,000. Institutional investors and hedge funds own 75.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HON. Citigroup raised their target price on Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on Honeywell International from $271.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, October 24th. TD Cowen lowered their target price on Honeywell International from $260.00 to $250.00 in a research note on Tuesday, October 7th. Morgan Stanley reduced their price target on shares of Honeywell International from $245.00 to $235.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 28th. Finally, Barclays raised their price target on shares of Honeywell International from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $249.63.

Honeywell International Price Performance

NASDAQ HON opened at $194.07 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $123.21 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77. The company has a 50 day moving average price of $208.63 and a two-hundred day moving average price of $218.18.

Honeywell International (NASDAQ:HON) last released its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business had revenue of $8.95 billion for the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. As a group, equities analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The business also recently declared 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 an increase from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International’s payout ratio is presently 50.16%.

Insider Activity

In other 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 transaction of $9,339,375.42. Following the transaction, the chief executive officer owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

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.