Traders Buy Honeywell International Inc. (HON) on Weakness

Investors purchased shares of Honeywell International Inc. (NYSE:HON) on weakness during trading hours on Wednesday. $78.97 million flowed into the stock on the tick-up and $50.81 million flowed out of the stock on the tick-down, for a money net flow of $28.16 million into the stock. Of all equities tracked, Honeywell International had the 29th highest net in-flow for the day. Honeywell International traded down ($0.78) for the day and closed at $137.90

Several brokerages have recently issued reports on HON. HSBC Holdings plc assumed 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. Zacks Investment Research raised shares of Honeywell International from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Wednesday, June 28th. Jefferies Group LLC reissued a “buy” rating and set a $155.00 price objective on shares of Honeywell International in a research note on Tuesday, August 22nd. Royal Bank Of Canada set a $148.00 price objective on shares of Honeywell International and gave the stock a “buy” rating in a research note on Sunday, August 27th. Finally, BidaskClub raised shares of Honeywell International from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $141.18.

The company has a market cap of $104.46 billion, a PE ratio of 21.30 and a beta of 0.94. The firm’s 50-day moving average price is $137.47 and its 200 day moving average price is $132.06.

Honeywell International (NYSE:HON) last issued its earnings results on Friday, July 21st. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.02. Honeywell International had a return on equity of 26.60% and a net margin of 12.68%. The company had revenue of $10.08 billion for the quarter, compared to analysts’ expectations of $9.89 billion. During the same period last year, the business earned $1.70 EPS. Honeywell International’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts expect that Honeywell International Inc. will post $7.09 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 16th. Honeywell International’s dividend payout ratio is currently 41.24%.

In related news, insider Timothy O. Mahoney sold 341,701 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $138.08, for a total value of $47,182,074.08. Following the completion of the sale, the insider now directly owns 294,155 shares of the company’s stock, valued at approximately $40,616,922.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jennifer H. Mak sold 420 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $136.66, for a total value of $57,397.20. Following the completion of the sale, the vice president now directly owns 1,363 shares of the company’s stock, valued at $186,267.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 354,108 shares of company stock worth $48,886,463. 1.56% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HON. Janus Henderson Group PLC raised its position in Honeywell International by 4,986.7% in the 2nd quarter. Janus Henderson Group PLC now owns 4,395,092 shares of the conglomerate’s stock valued at $585,822,000 after buying an additional 4,308,688 shares during the last quarter. Ameriprise Financial Inc. raised its position in Honeywell International by 38.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock valued at $1,776,394,000 after buying an additional 3,728,533 shares during the last quarter. Clearbridge Investments LLC raised its position in Honeywell International by 69.2% in the 1st quarter. Clearbridge Investments LLC now owns 5,171,598 shares of the conglomerate’s stock valued at $645,777,000 after buying an additional 2,114,627 shares during the last quarter. Harbour Capital Advisors LLC raised its position in Honeywell International by 13,551.7% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,804,613 shares of the conglomerate’s stock valued at $13,539,000 after buying an additional 1,791,394 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Honeywell International by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock valued at $6,626,247,000 after buying an additional 1,234,672 shares during the last quarter. 75.91% of the stock is owned by institutional investors and hedge funds.

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Honeywell International Company Profile

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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