Perennial Investment Advisors LLC Boosts Stake in Honeywell International Inc. $HON

Perennial Investment Advisors LLC raised its stake in Honeywell International Inc. (NASDAQ:HON) by 22.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,099 shares of the conglomerate’s stock after acquiring an additional 384 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Honeywell International were worth $489,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HON. BankPlus Wealth Management LLC grew its position in shares of Honeywell International by 2.2% in the second quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate’s stock valued at $463,000 after purchasing an additional 43 shares during the period. Summit Wealth Group LLC boosted its stake in Honeywell International by 4.3% in the 2nd quarter. Summit Wealth Group LLC now owns 1,115 shares of the conglomerate’s stock worth $260,000 after buying an additional 46 shares during the last quarter. Maia Wealth LLC lifted its holdings in shares of Honeywell International by 4.1% during the 1st quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate’s stock worth $238,000 after acquiring an additional 47 shares during the period. Capital Advisors Ltd. LLC increased its position in Honeywell International by 1.8% during the second quarter. Capital Advisors Ltd. LLC now owns 2,696 shares of the conglomerate’s stock worth $628,000 after purchasing an additional 47 shares during the last quarter. Finally, Bar Harbor Wealth Management raised its stake in Honeywell International by 0.3% during the second quarter. Bar Harbor Wealth Management now owns 15,192 shares of the conglomerate’s stock worth $3,538,000 after purchasing an additional 47 shares during the period. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Lucian Boldea sold 42,149 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. This 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 the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HON shares. Royal Bank Of Canada upgraded Honeywell International from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $235.00 to $253.00 in a research note on Monday, October 27th. JPMorgan Chase & Co. increased their price target on Honeywell International from $212.00 to $218.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Honeywell International in a research report on Thursday, November 13th. Argus dropped their target price on Honeywell International from $250.00 to $225.00 in a report on Friday, November 14th. Finally, Robert W. Baird decreased their price target on Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.38.

Honeywell International Price Performance

Shares of HON stock opened at $191.45 on Wednesday. The firm has a market cap of $121.55 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.73 and a beta of 1.07. The firm has a fifty day moving average of $206.13 and a two-hundred day moving average of $217.89. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04. Honeywell International Inc. has a 1-year low of $169.21 and a 1-year high of $228.04.

Honeywell International (NASDAQ:HON) last posted its quarterly 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 business 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. As a group, research analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors 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 represents a $4.76 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. 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.