Honeywell International Inc. (NYSE:HON) declared a quarterly dividend on Thursday, February 8th, RTT News reports. Stockholders of record on Friday, February 23rd will be given a dividend of 0.745 per share by the conglomerate on Friday, March 9th. This represents a $2.98 annualized dividend and a dividend yield of 1.99%.
Honeywell International has increased its dividend by an average of 13.6% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Honeywell International has a dividend payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Honeywell International to earn $8.73 per share next year, which means the company should continue to be able to cover its $2.98 annual dividend with an expected future payout ratio of 34.1%.
Honeywell International (HON) traded down $1.47 during trading on Thursday, hitting $149.72. 706,272 shares of the stock traded hands, compared to its average volume of 3,473,530. The company has a market capitalization of $114,420.00, a PE ratio of 72.13, a P/E/G ratio of 2.14 and a beta of 0.96. Honeywell International has a 52-week low of $119.64 and a 52-week high of $165.13. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.
A number of hedge funds and other institutional investors have recently bought and sold shares of HON. DF Dent & Co. Inc. purchased a new stake in Honeywell International during the second quarter valued at about $203,000. Logan Capital Management Inc. purchased a new stake in shares of Honeywell International during the second quarter worth about $207,000. Quadrant Capital Group LLC boosted its holdings in shares of Honeywell International by 127.9% during the second quarter. Quadrant Capital Group LLC now owns 1,889 shares of the conglomerate’s stock worth $218,000 after purchasing an additional 1,060 shares during the period. Laurel Wealth Advisors Inc. boosted its holdings in shares of Honeywell International by 4.8% during the second quarter. Laurel Wealth Advisors Inc. now owns 1,889 shares of the conglomerate’s stock worth $251,000 after purchasing an additional 86 shares during the period. Finally, Cypress Capital Management LLC boosted its holdings in shares of Honeywell International by 21.6% during the second quarter. Cypress Capital Management LLC now owns 1,983 shares of the conglomerate’s stock worth $264,000 after purchasing an additional 352 shares during the period. Institutional investors and hedge funds own 76.52% of the company’s stock.
Honeywell International declared that its board has authorized a stock repurchase program on Friday, December 8th that permits the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization permits the conglomerate to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
HON has been the subject of several research reports. Royal Bank of Canada upped their target price on shares of Honeywell International from $148.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. Deutsche Bank reiterated a “buy” rating and issued a $171.00 target price on shares of Honeywell International in a research report on Tuesday, November 28th. Bank of America upped their target price on shares of Honeywell International from $117.12 to $168.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. UBS Group initiated coverage on shares of Honeywell International in a research report on Monday, January 22nd. They issued a “buy” rating for the company. Finally, Jefferies Group upped their target price on shares of Honeywell International from $162.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Honeywell International currently has an average rating of “Buy” and a consensus price target of $163.93.
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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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