Summit Investment Advisors Inc. Acquires 472 Shares of Honeywell International Inc. $HON

Summit Investment Advisors Inc. increased its holdings in Honeywell International Inc. (NASDAQ:HON) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,334 shares of the conglomerate’s stock after acquiring an additional 472 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Honeywell International were worth $8,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC bought a new position in Honeywell International during the 1st quarter valued at approximately $1,150,929,000. Wellington Management Group LLP boosted its holdings 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 in the last quarter. Alliancebernstein L.P. grew its stake in shares of 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 bought a new position in shares of Honeywell International during the first quarter valued at $164,000. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Honeywell International by 592.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate’s stock worth $183,728,000 after purchasing an additional 742,281 shares in the last quarter. Institutional investors own 75.91% of the company’s stock.

Insider Activity

In other news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the sale, the chief executive officer owned 10,334 shares in the company, valued at $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 SEC, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.

Honeywell International Stock Performance

HON opened at $194.07 on Friday. The firm has a market cap of $123.21 billion, a P/E ratio of 20.45, a PEG ratio of 2.73 and a beta of 1.07. Honeywell International Inc. has a 1-year low of $179.36 and a 1-year high of $242.77. The company has a 50 day simple moving average of $208.63 and a two-hundred day simple moving average of $218.04. 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 (NASDAQ:HON) last issued its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The business had revenue of $8.95 billion during the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. Equities analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a dividend of $1.19 per share. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a yield of 2.5%. Honeywell International’s payout ratio is 50.16%.

Wall Street Analysts Forecast Growth

HON has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Honeywell International from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Citigroup boosted their price objective on shares of Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley lowered their price objective on Honeywell International from $245.00 to $235.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 28th. Jefferies Financial Group lowered their price target on Honeywell International from $230.00 to $220.00 in a report on Monday, November 3rd. Finally, Rothschild & Co Redburn decreased their target price on Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.63.

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.