Gradient Investments LLC Raises Stake in Honeywell International Inc. (HON)
Gradient Investments LLC lifted its position in shares of Honeywell International Inc. (NYSE:HON) by 6.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 59,237 shares of the conglomerate’s stock after purchasing an additional 3,340 shares during the quarter. Gradient Investments LLC’s holdings in Honeywell International were worth $9,857,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Honeywell International by 4.7% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 140,209 shares of the conglomerate’s stock worth $20,197,000 after purchasing an additional 6,316 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of Honeywell International by 7,972.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 22,844 shares of the conglomerate’s stock worth $889,000 after purchasing an additional 22,561 shares during the period. Parsec Financial Management Inc. grew its holdings in shares of Honeywell International by 24.5% during the 2nd quarter. Parsec Financial Management Inc. now owns 1,982 shares of the conglomerate’s stock worth $286,000 after purchasing an additional 390 shares during the period. Riverhead Capital Management LLC grew its holdings in shares of Honeywell International by 38.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 17,874 shares of the conglomerate’s stock worth $2,575,000 after purchasing an additional 4,975 shares during the period. Finally, New England Asset Management Inc. grew its holdings in shares of Honeywell International by 467.0% during the 2nd quarter. New England Asset Management Inc. now owns 3,260 shares of the conglomerate’s stock worth $470,000 after purchasing an additional 2,685 shares during the period. Institutional investors and hedge funds own 74.60% of the company’s stock.
A number of equities analysts have weighed in on the company. Credit Suisse Group assumed coverage on Honeywell International in a report on Friday. They issued a “neutral” rating and a $170.00 price target for the company. Gordon Haskett assumed coverage on Honeywell International in a report on Friday. They issued a “buy” rating for the company. Citigroup set a $194.00 price target on Honeywell International and gave the stock a “buy” rating in a report on Tuesday. HSBC cut Honeywell International from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a report on Tuesday, October 2nd. Finally, Deutsche Bank upped their price target on Honeywell International from $168.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, September 28th. Three investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $174.79.
Honeywell International (NYSE:HON) last released its earnings results on Friday, July 20th. The conglomerate reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.11. The company had revenue of $10.92 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Honeywell International had a return on equity of 31.46% and a net margin of 3.88%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 EPS. As a group, analysts forecast that Honeywell International Inc. will post 8.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be paid a dividend of $0.82 per share. This is a boost from Honeywell International’s previous quarterly dividend of $0.75. This represents a $3.28 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, November 15th. Honeywell International’s dividend payout ratio is 41.91%.
In other news, Director Linnet F. Deily sold 3,066 shares of the stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $158.12, for a total transaction of $484,795.92. Following the completion of the transaction, the director now directly owns 11,787 shares in the company, valued at approximately $1,863,760.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Vimal Kapur sold 9,996 shares of the stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $159.25, for a total value of $1,591,863.00. Following the transaction, the insider now owns 16,131 shares of the company’s stock, valued at $2,568,861.75. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.
About Honeywell International
Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.
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