Horizon Bancorp Inc. IN Raises Stake in Honeywell International Inc. $HON

Horizon Bancorp Inc. IN raised its position in Honeywell International Inc. (NASDAQ:HON) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 978 shares of the conglomerate’s stock after acquiring an additional 66 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Honeywell International were worth $228,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in HON. Nuveen LLC purchased a new position in Honeywell International in the first quarter worth approximately $1,150,929,000. Wellington Management Group LLP lifted its stake in Honeywell International by 8.9% in the first quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock worth $3,335,476,000 after acquiring an additional 1,293,137 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Honeywell International by 64.6% in the first quarter. Alliancebernstein L.P. now owns 2,652,344 shares of the conglomerate’s stock worth $561,634,000 after acquiring an additional 1,041,273 shares during the last quarter. Vista Cima Wealth Management LLC purchased a new position in Honeywell International in the first quarter worth approximately $164,000. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Honeywell International by 592.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate’s stock worth $183,728,000 after acquiring an additional 742,281 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Stock Performance

Shares of Honeywell International stock opened at $204.23 on Friday. The firm’s fifty day simple moving average is $214.45 and its 200-day simple moving average is $217.28. The stock has a market capitalization of $129.67 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.35 and a beta of 1.06. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.29 and a quick ratio of 0.97.

Honeywell International (NASDAQ:HON) last announced its earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The business had revenue of $8.95 billion for the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. 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 forecast that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.3%. 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. Honeywell International’s dividend payout ratio is presently 51.42%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Honeywell International in a research note on Wednesday. TD Cowen reduced their price objective on shares of Honeywell International from $260.00 to $250.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Honeywell International from $268.00 to $271.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Barclays upped their target price on shares of Honeywell International from $258.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company reduced their price target on shares of Honeywell International from $230.00 to $220.00 and set an “equal weight” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $251.80.

Insider Activity at Honeywell International

In other 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 transaction, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at $2,289,807.72. The trade was a 80.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.

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.