Argent Trust Co Increases Stock Position in Honeywell International Inc. (NYSE:HON)
Argent Trust Co boosted its stake in Honeywell International Inc. (NYSE:HON) by 36.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,219 shares of the conglomerate’s stock after acquiring an additional 20,289 shares during the period. Honeywell International comprises approximately 1.1% of Argent Trust Co’s portfolio, making the stock its 21st largest position. Argent Trust Co’s holdings in Honeywell International were worth $10,063,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Private Wealth LLC increased its stake in Honeywell International by 4.7% in the fourth quarter. Boston Private Wealth LLC now owns 171,768 shares of the conglomerate’s stock valued at $30,403,000 after purchasing an additional 7,753 shares during the period. Chelsea Counsel Co. increased its stake in Honeywell International by 3.0% in the fourth quarter. Chelsea Counsel Co. now owns 59,171 shares of the conglomerate’s stock valued at $10,474,000 after purchasing an additional 1,713 shares during the period. Baird Financial Group Inc. increased its stake in Honeywell International by 5.7% in the fourth quarter. Baird Financial Group Inc. now owns 391,581 shares of the conglomerate’s stock valued at $69,310,000 after purchasing an additional 21,186 shares during the period. Brighton Jones LLC increased its stake in Honeywell International by 11.9% in the fourth quarter. Brighton Jones LLC now owns 2,467 shares of the conglomerate’s stock valued at $437,000 after purchasing an additional 262 shares during the period. Finally, Bluefin Trading LLC acquired a new position in Honeywell International in the fourth quarter valued at $3,349,000. Institutional investors own 77.14% of the company’s stock.
A number of research analysts have commented on HON shares. JPMorgan Chase & Co. dropped their price objective on shares of Honeywell International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Oppenheimer reaffirmed a “hold” rating on shares of Honeywell International in a report on Friday, May 1st. HSBC raised shares of Honeywell International from a “hold” rating to a “buy” rating and upped their price target for the company from $138.00 to $158.00 in a report on Thursday. Langenberg & Company reissued a “buy” rating and set a $165.00 price objective on shares of Honeywell International in a research note on Friday, May 1st. Finally, Credit Suisse Group upped their price objective on shares of Honeywell International from $148.00 to $158.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Honeywell International has an average rating of “Buy” and a consensus price target of $156.47.
Honeywell International (NYSE:HON) last released its quarterly earnings data on Friday, May 1st. The conglomerate reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.25. Honeywell International had a net margin of 17.38% and a return on equity of 33.60%. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.56 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Honeywell International Inc. will post 6.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, May 14th. Honeywell International’s payout ratio is currently 44.12%.
About Honeywell International
Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment supplies products, software, and services for aircrafts and vehicles. This 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 connected solutions and data services for the aftermarket, as well as provides wireless connectivity and management and technical services.
Further Reading: Straddles
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.