Hedges Asset Management LLC Takes $679,000 Position in Honeywell International Inc. $HON

Hedges Asset Management LLC acquired a new position in shares of Honeywell International Inc. (NASDAQ:HON) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,225 shares of the conglomerate’s stock, valued at approximately $679,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Chung Wu Investment Group LLC purchased a new stake in shares of Honeywell International during the 2nd quarter valued at approximately $26,000. RMG Wealth Management LLC acquired a new stake in Honeywell International during the second quarter worth $33,000. Activest Wealth Management raised its position in Honeywell International by 425.9% in 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 during the period. Howard Hughes Medical Institute acquired a new position in shares of Honeywell International in the 2nd quarter valued at $33,000. Finally, 1248 Management LLC purchased a new position in shares of Honeywell International during the 1st quarter worth $38,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HON has been the topic of a number of recent analyst reports. Rothschild & Co Redburn decreased their target price on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Honeywell International in a report on Monday. TD Cowen lowered their price objective on shares of Honeywell International from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Robert W. Baird cut their target price on Honeywell International from $250.00 to $220.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. raised their price target on Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $236.56.

Honeywell International Price Performance

Shares of HON opened at $199.89 on Thursday. The company has a market cap of $126.91 billion, a P/E ratio of 21.06, a PEG ratio of 2.65 and a beta of 0.96. Honeywell International Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $228.04. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. The firm’s 50 day moving average price is $198.62 and its 200 day moving average price is $213.78.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business had revenue of $8.95 billion during the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS and its FY 2023 guidance at 9.100-9.200 EPS. On average, research analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 14th were given a $1.19 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a yield of 2.4%. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s dividend payout ratio is 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.