Summit Global Investments Takes $483,000 Position in Honeywell International Inc. $HON

Summit Global Investments acquired a new stake in Honeywell International Inc. (NASDAQ:HON) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 2,076 shares of the conglomerate’s stock, valued at approximately $483,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Triton Financial Group Inc acquired a new position in Honeywell International during the 2nd quarter worth $1,001,000. Amundi boosted its stake in shares of Honeywell International by 30.2% in the 1st quarter. Amundi now owns 519,882 shares of the conglomerate’s stock valued at $107,450,000 after buying an additional 120,706 shares during the period. Managed Asset Portfolios LLC boosted its stake in shares of Honeywell International by 2.3% in the 2nd quarter. Managed Asset Portfolios LLC now owns 95,833 shares of the conglomerate’s stock valued at $22,317,000 after buying an additional 2,154 shares during the period. Baxter Bros Inc. grew its position in shares of Honeywell International by 14.6% during the second quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate’s stock worth $8,321,000 after buying an additional 4,543 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its stake in shares of Honeywell International by 11.4% during the first quarter. Integrated Wealth Concepts LLC now owns 28,502 shares of the conglomerate’s stock worth $6,035,000 after buying an additional 2,915 shares during the period. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HON shares. Morgan Stanley decreased their price target on shares of Honeywell International from $245.00 to $235.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 28th. 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 report on Friday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. TD Cowen dropped their target price on Honeywell International from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Honeywell International in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.38.

Honeywell International Trading Up 1.3%

Shares of Honeywell International stock opened at $191.02 on Wednesday. The company has a fifty day simple moving average of $203.87 and a 200-day simple moving average of $217.05. Honeywell International Inc. has a 12-month low of $169.21 and a 12-month high of $228.04. 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 cap of $121.28 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.73 and a beta of 1.07.

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

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be given a $1.19 dividend. This is a boost 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 dividend yield of 2.5%. Honeywell International’s payout ratio is currently 50.16%.

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.