Morningstar Investment Management LLC Makes New $1.36 Million Investment in Honeywell International Inc. $HON

Morningstar Investment Management LLC bought a new position in Honeywell International Inc. (NASDAQ:HON) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,850 shares of the conglomerate’s stock, valued at approximately $1,362,000.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Honeywell International by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate’s stock worth $13,172,852,000 after buying an additional 447,744 shares during the last quarter. Wellington Management Group LLP increased its position 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 buying an additional 1,293,137 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Honeywell International by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate’s stock worth $1,278,563,000 after buying an additional 505,083 shares during the last quarter. Invesco Ltd. increased its position in Honeywell International by 5.4% in the first quarter. Invesco Ltd. now owns 5,568,610 shares of the conglomerate’s stock worth $1,179,153,000 after buying an additional 283,193 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Honeywell International in the first quarter worth $1,150,929,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Honeywell International Price Performance

NASDAQ:HON opened at $202.91 on Tuesday. The firm has a market capitalization of $128.83 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 2.25 and a beta of 1.06. Honeywell International Inc. has a 52-week low of $179.36 and a 52-week high of $242.77. The stock has a fifty day moving average of $213.75 and a 200 day moving average of $217.20. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The company had revenue of $8.95 billion during the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. On average, research analysts expect that Honeywell International Inc. will post 10.34 EPS 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 paid a dividend of $1.19 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International’s dividend payout ratio is 51.42%.

Insider Transactions at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price target on Honeywell International from $268.00 to $271.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Wells Fargo & Company cut their price target on Honeywell International from $230.00 to $220.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. Barclays raised their price target on Honeywell International from $258.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Morgan Stanley raised their price target on Honeywell International from $225.00 to $245.00 and gave the stock an “equal weight” rating in a report on Monday, July 28th. Finally, Royal Bank Of Canada cut their price target on Honeywell International from $254.00 to $253.00 and set a “sector perform” rating for the company in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $251.80.

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.