DAVENPORT & Co LLC Has $22.16 Million Position in Honeywell International Inc. $HON

DAVENPORT & Co LLC boosted its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 35.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 105,293 shares of the conglomerate’s stock after purchasing an additional 27,638 shares during the period. DAVENPORT & Co LLC’s holdings in Honeywell International were worth $22,164,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Crescent Sterling Ltd. raised its holdings in shares of Honeywell International by 3.8% during the 3rd quarter. Crescent Sterling Ltd. now owns 6,873 shares of the conglomerate’s stock valued at $1,447,000 after purchasing an additional 250 shares in the last quarter. IFM Investors Pty Ltd increased its position in Honeywell International by 5.0% during the third quarter. IFM Investors Pty Ltd now owns 67,307 shares of the conglomerate’s stock worth $14,013,000 after buying an additional 3,196 shares during the last quarter. Welch Group LLC raised its holdings in Honeywell International by 4.5% during the third quarter. Welch Group LLC now owns 7,716 shares of the conglomerate’s stock valued at $1,624,000 after buying an additional 330 shares in the last quarter. White Pine Investment CO lifted its position in shares of Honeywell International by 1.6% in the third quarter. White Pine Investment CO now owns 18,335 shares of the conglomerate’s stock worth $3,859,000 after buying an additional 294 shares during the last quarter. Finally, True North Advisors LLC boosted its stake in shares of Honeywell International by 17.9% during the 3rd quarter. True North Advisors LLC now owns 3,560 shares of the conglomerate’s stock worth $749,000 after acquiring an additional 540 shares in the last quarter. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. BNP Paribas raised Honeywell International to a “hold” rating in a research note on Wednesday, December 3rd. Royal Bank Of Canada raised shares of Honeywell International from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $235.00 to $253.00 in a research report on Monday, October 27th. Rothschild & Co Redburn reduced their price objective on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Evercore ISI started coverage on shares of Honeywell International in a research note on Monday, December 15th. They issued an “outperform” rating and a $255.00 target price on the stock. Finally, DZ Bank dropped their target price on shares of Honeywell International from $248.00 to $237.00 in a report on Tuesday. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $235.58.

Honeywell International Trading Up 0.7%

Shares of HON stock opened at $196.85 on Thursday. The firm has a market capitalization of $124.97 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 2.85 and a beta of 0.96. Honeywell International Inc. has a 1 year low of $169.21 and a 1 year high of $228.04. The firm’s fifty day simple moving average is $197.95 and its 200 day simple moving average is $212.73. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70.

Honeywell International (NASDAQ:HON) last issued 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 and its FY 2023 guidance at 9.100-9.200 EPS. As a group, sell-side analysts predict that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 14th were paid a dividend of $1.19 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, November 14th. Honeywell International’s dividend payout ratio is presently 50.16%.

About Honeywell International

Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.