Summit Wealth & Retirement Planning Inc. Buys Shares of 880 Honeywell International Inc. $HON

Summit Wealth & Retirement Planning Inc. bought a new stake in shares of Honeywell International Inc. (NASDAQ:HON) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 880 shares of the conglomerate’s stock, valued at approximately $205,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Honeywell International by 0.7% in the 1st 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 in the last quarter. Wellington Management Group LLP grew its stake in shares of 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 purchasing an additional 1,293,137 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Honeywell International by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 6,777,498 shares of the conglomerate’s stock valued at $1,578,344,000 after purchasing an additional 48,968 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Honeywell International by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate’s stock valued at $1,278,563,000 after purchasing an additional 505,083 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings 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 purchasing an additional 283,193 shares during the period. Institutional investors and hedge funds own 75.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on HON shares. Citigroup boosted their price target on shares of Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a research report on Tuesday. Rothschild & Co Redburn dropped their target price on Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Robert W. Baird cut their target price on Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Morgan Stanley lowered their price target 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. Finally, Jefferies Financial Group cut their price objective on Honeywell International from $230.00 to $220.00 in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Honeywell International presently has an average rating of “Moderate Buy” and an average target price of $249.63.

Honeywell International Trading Down 0.9%

Shares of HON opened at $194.07 on Friday. The business’s 50-day moving average price is $208.63 and its 200 day moving average price is $218.04. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $123.21 billion, a P/E ratio of 20.45, a P/E/G 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.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The company had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. Analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be paid 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 annualized dividend and a yield of 2.5%. Honeywell International’s dividend payout ratio (DPR) is presently 50.16%.

Insider Activity

In other news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was 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 $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

About Honeywell International

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.