Cherokee Insurance Co Makes New $245,000 Investment in Honeywell International Inc. $HON

Cherokee Insurance Co bought a new stake in Honeywell International Inc. (NASDAQ:HON) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,050 shares of the conglomerate’s stock, valued at approximately $245,000.

Other hedge funds also recently modified their holdings of the company. Chung Wu Investment Group LLC bought a new position in Honeywell International during the 2nd quarter valued at $26,000. Pandora Wealth Inc. purchased a new stake in shares of Honeywell International in the first quarter valued at about $33,000. RMG Wealth Management LLC purchased a new stake in shares of Honeywell International in the second quarter valued at about $33,000. Activest Wealth Management lifted its position in shares of Honeywell International by 425.9% during the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Finally, 1248 Management LLC purchased a new position in Honeywell International during the first quarter worth about $38,000. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Stock Performance

Shares of HON opened at $199.87 on Friday. Honeywell International Inc. has a 1 year low of $169.21 and a 1 year high of $228.04. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04. The stock’s fifty day moving average price is $207.26 and its two-hundred day moving average price is $218.06. The firm has a market cap of $126.89 billion, a PE ratio of 21.06, a PEG ratio of 2.73 and a beta of 1.07.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The company 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. On average, equities research analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 2.4%. 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. Honeywell International’s payout ratio is presently 50.16%.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the company’s 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 directly owned 10,334 shares in the company, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings lowered shares of Honeywell International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. upped their target price on Honeywell International from $212.00 to $218.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Barclays lifted their price target on Honeywell International from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Royal Bank Of Canada raised Honeywell International from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $235.00 to $253.00 in a research report on Monday, October 27th. Finally, HSBC lowered their target price on Honeywell International from $290.00 to $266.00 and set a “buy” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.13.

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.