Cherokee Insurance Co Takes $245,000 Position in Honeywell International Inc. $HON

Cherokee Insurance Co purchased a new position in shares of Honeywell International Inc. (NASDAQ:HON) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,050 shares of the conglomerate’s stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds have also bought and sold shares of HON. Brighton Jones LLC grew its position in shares of Honeywell International by 9.1% in the 4th quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate’s stock valued at $4,302,000 after buying an additional 1,582 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Honeywell International by 29.8% in the first quarter. SBI Securities Co. Ltd. now owns 1,273 shares of the conglomerate’s stock worth $270,000 after acquiring an additional 292 shares during the period. Bridgewater Advisors Inc. bought a new stake in Honeywell International in the first quarter valued at approximately $431,000. Dynasty Wealth Management LLC increased its position in Honeywell International by 2.0% during the 1st quarter. Dynasty Wealth Management LLC now owns 11,554 shares of the conglomerate’s stock valued at $2,447,000 after purchasing an additional 224 shares during the period. Finally, Concord Wealth Partners increased its position in Honeywell International by 86.7% during the 1st quarter. Concord Wealth Partners now owns 478 shares of the conglomerate’s stock valued at $101,000 after purchasing an additional 222 shares during the period. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total value of $9,339,375.42. Following the completion of the sale, the chief executive officer owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HON shares. Royal Bank Of Canada upgraded shares of Honeywell International from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $235.00 to $253.00 in a research report on Monday, October 27th. Jefferies Financial Group lowered their target price on shares of Honeywell International from $230.00 to $220.00 in a research note on Monday, November 3rd. Citigroup boosted their target price on shares of Honeywell International from $251.56 to $267.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Wells Fargo & Company upped their price target on shares of Honeywell International from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Honeywell International has a consensus rating of “Moderate Buy” and an average price target of $244.13.

Honeywell International Trading Down 0.9%

HON opened at $199.87 on Friday. The company has a market cap of $126.89 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. The company has a fifty day moving average price of $207.26 and a two-hundred day moving average price of $218.06. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70. Honeywell International Inc. has a 1-year low of $169.21 and a 1-year high of $228.04.

Honeywell International (NASDAQ:HON) last issued its earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The company had revenue of $8.95 billion during 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. Analysts predict that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change 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 2.4%. Honeywell International’s payout ratio is currently 50.16%.

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.