Honeywell International Inc. (HON) Plans $0.67 Quarterly Dividend
Honeywell International Inc. (NYSE:HON) declared a quarterly dividend on Friday, July 28th, RTT News reports. Stockholders of record on Friday, August 18th will be paid a dividend of 0.665 per share by the conglomerate on Friday, September 8th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.94%.
Honeywell International has increased its dividend by an average of 13.4% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Honeywell International has a payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Honeywell International to earn $7.71 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 34.5%.
Shares of Honeywell International (NYSE:HON) traded down 0.38% during trading on Friday, hitting $136.46. The stock had a trading volume of 568,284 shares. Honeywell International has a 12-month low of $105.25 and a 12-month high of $138.70. The stock’s 50-day moving average is $134.75 and its 200-day moving average is $127.89. The stock has a market capitalization of $103.79 billion, a P/E ratio of 21.16 and a beta of 0.95.
Honeywell International (NYSE:HON) last released its earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.02. Honeywell International had a return on equity of 26.60% and a net margin of 12.68%. The firm had revenue of $10.08 billion during the quarter, compared to analysts’ expectations of $9.89 billion. During the same period in the prior year, the company earned $1.70 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts predict that Honeywell International will post $7.10 EPS for the current fiscal year.
Several brokerages have recently issued reports on HON. Credit Suisse Group reiterated a “neutral” rating and set a $139.00 price target (up from $131.00) on shares of Honeywell International in a report on Tuesday. Royal Bank Of Canada upped their price target on shares of Honeywell International from $145.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday. Oppenheimer Holdings, Inc. upped their price target on shares of Honeywell International from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $155.00 price target (up from $141.00) on shares of Honeywell International in a report on Monday. Finally, Zacks Investment Research upgraded shares of Honeywell International from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a report on Thursday, July 20th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $138.58.
In other news, CFO Thomas A. Szlosek sold 36,080 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $131.16, for a total transaction of $4,732,252.80. Following the transaction, the chief financial officer now owns 2,160 shares of the company’s stock, valued at approximately $283,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer H. Mak sold 5,510 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $131.88, for a total transaction of $726,658.80. Following the transaction, the vice president now directly owns 3,141 shares in the company, valued at approximately $414,235.08. The disclosure for this sale can be found here. Insiders have sold a total of 1,137,226 shares of company stock worth $148,857,359 in the last three months. Insiders own 1.56% of the company’s stock.
Honeywell International Company Profile
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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