Investors Purchase High Volume of Honeywell International Put Options (HON)

Honeywell International Inc. (NYSE:HON) saw unusually large options trading on Tuesday. Stock investors acquired 17,328 put options on the stock. This is an increase of 550% compared to the average volume of 2,664 put options.

Several brokerages have weighed in on HON. ValuEngine raised Honeywell International from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. TheStreet lowered Honeywell International from an “a+” rating to a “c+” rating in a research report on Friday, January 26th. UBS Group began coverage on Honeywell International in a research report on Monday, January 22nd. They issued a “buy” rating on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $187.00 target price on shares of Honeywell International in a research report on Friday, January 26th. Finally, Bank of America upped their target price on Honeywell International from $117.12 to $168.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $163.93.

Shares of Honeywell International (NYSE HON) traded up $1.88 during midday trading on Wednesday, hitting $150.38. The stock had a trading volume of 2,960,030 shares, compared to its average volume of 3,620,000. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.38. The firm has a market cap of $113,810.00, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. Honeywell International has a fifty-two week low of $122.40 and a fifty-two week high of $165.13.

Honeywell International (NYSE:HON) last announced its earnings results on Friday, January 26th. The conglomerate reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.01. Honeywell International had a return on equity of 27.27% and a net margin of 4.08%. The firm had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the company earned $1.74 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. analysts predict that Honeywell International will post 7.97 earnings per share for the current year.

Honeywell International announced that its Board of Directors has authorized a stock repurchase plan on Friday, December 8th that allows the company to buyback $6.50 billion in shares. This buyback authorization allows the conglomerate to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be paid a dividend of $0.745 per share. The ex-dividend date is Thursday, February 22nd. This represents a $2.98 annualized dividend and a yield of 1.98%. Honeywell International’s payout ratio is 69.63%.

Large investors have recently made changes to their positions in the stock. Boston Partners lifted its position in shares of Honeywell International by 5.5% in the 2nd quarter. Boston Partners now owns 560,197 shares of the conglomerate’s stock worth $74,669,000 after acquiring an additional 28,961 shares during the period. Summit Securities Group LLC bought a new stake in shares of Honeywell International in the 2nd quarter worth approximately $213,000. Arizona State Retirement System lifted its position in shares of Honeywell International by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 189,024 shares of the conglomerate’s stock worth $25,195,000 after acquiring an additional 600 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Honeywell International by 5.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 217,832 shares of the conglomerate’s stock worth $29,184,000 after acquiring an additional 11,091 shares during the period. Finally, BTC Capital Management Inc. raised its holdings in shares of Honeywell International by 16.6% in the 2nd quarter. BTC Capital Management Inc. now owns 60,954 shares of the conglomerate’s stock worth $8,126,000 after buying an additional 8,656 shares in the last quarter. Hedge funds and other institutional investors own 76.08% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Investors Purchase High Volume of Honeywell International Put Options (HON)” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/14/investors-purchase-high-volume-of-honeywell-international-put-options-hon.html.

About Honeywell International

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.

Receive News & Ratings for Honeywell International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Honeywell International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply