Summit Securities Group LLC Invests $213,000 in Honeywell International Inc. (HON) Stock
Summit Securities Group LLC bought a new stake in Honeywell International Inc. (NYSE:HON) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,598 shares of the conglomerate’s stock, valued at approximately $213,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hanson McClain Inc. boosted its stake in Honeywell International by 0.4% in the first quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock valued at $101,000 after acquiring an additional 3 shares during the last quarter. Guidant Wealth Advisors boosted its stake in Honeywell International by 15.8% in the second quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock valued at $102,000 after acquiring an additional 104 shares during the last quarter. Jolley Asset Management LLC boosted its stake in Honeywell International by 6.9% in the second quarter. Jolley Asset Management LLC now owns 775 shares of the conglomerate’s stock valued at $103,000 after acquiring an additional 50 shares during the last quarter. CKW Financial Group purchased a new position in Honeywell International in the second quarter valued at about $108,000. Finally, MCF Advisors LLC boosted its stake in Honeywell International by 55.8% in the first quarter. MCF Advisors LLC now owns 935 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 75.73% of the company’s stock.
A number of research analysts have weighed in on the stock. Oppenheimer Holdings, Inc. boosted their target price on shares of Honeywell International from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Cowen and Company reiterated a “buy” rating and issued a $140.00 target price on shares of Honeywell International in a research note on Monday, July 17th. HSBC Holdings plc started coverage on shares of Honeywell International in a research note on Wednesday, June 21st. They issued a “buy” rating and a $147.00 target price on the stock. BidaskClub upgraded shares of Honeywell International from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Finally, Royal Bank Of Canada set a $148.00 price target on shares of Honeywell International and gave the company a “buy” rating in a research note on Sunday, August 27th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $149.52.
Shares of Honeywell International Inc. (NYSE:HON) opened at 143.37 on Monday. The stock has a market capitalization of $109.04 billion, a PE ratio of 22.23 and a beta of 0.95. Honeywell International Inc. has a 1-year low of $107.41 and a 1-year high of $145.30. The firm has a 50-day moving average of $139.95 and a 200 day moving average of $134.50.
Honeywell International (NYSE:HON) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.02. Honeywell International had a net margin of 12.68% and a return on equity of 26.60%. The business had revenue of $10.08 billion for the quarter, compared to the consensus estimate of $9.89 billion. During the same quarter in the previous year, the firm earned $1.70 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Analysts predict that Honeywell International Inc. will post $7.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.745 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.98 annualized dividend and a yield of 2.08%. This is an increase from Honeywell International’s previous quarterly dividend of $0.67. Honeywell International’s payout ratio is currently 41.24%.
In other news, CFO Thomas A. Szlosek sold 803 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $137.02, for a total value of $110,027.06. Following the transaction, the chief financial officer now owns 5,702 shares of the company’s stock, valued at $781,288.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer H. Mak sold 420 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $136.66, for a total transaction of $57,397.20. Following the completion of the transaction, the vice president now directly owns 1,363 shares in the company, valued at approximately $186,267.58. The disclosure for this sale can be found here. Insiders have sold 354,108 shares of company stock worth $48,886,463 in the last ninety days. Insiders own 1.56% of the company’s stock.
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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.
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