Meritage Portfolio Management Buys New Stake in Honeywell International Inc. (NASDAQ:HON)

Meritage Portfolio Management bought a new stake in Honeywell International Inc. (NASDAQ:HON) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,258 shares of the conglomerate’s stock, valued at approximately $474,000.

Several other large investors have also recently bought and sold shares of HON. Rakuten Securities Inc. purchased a new position in shares of Honeywell International during the fourth quarter worth about $31,000. Cordant Inc. acquired a new stake in shares of Honeywell International during the fourth quarter worth about $31,000. Financial Connections Group Inc. acquired a new stake in shares of Honeywell International during the fourth quarter worth about $37,000. TFO Wealth Partners LLC boosted its stake in shares of Honeywell International by 105.6% during the third quarter. TFO Wealth Partners LLC now owns 222 shares of the conglomerate’s stock worth $41,000 after buying an additional 114 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Honeywell International during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HON shares. Berenberg Bank upgraded shares of Honeywell International from a “hold” rating to a “buy” rating and increased their target price for the stock from $195.00 to $240.00 in a research note on Wednesday, March 6th. Royal Bank of Canada decreased their target price on shares of Honeywell International from $210.00 to $209.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $215.00 price objective (down previously from $227.00) on shares of Honeywell International in a research report on Tuesday, April 16th. Finally, Barclays raised their price objective on shares of Honeywell International from $230.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $219.67.

Honeywell International Price Performance

Shares of HON stock traded up $0.05 during midday trading on Friday, reaching $193.07. 1,654,725 shares of the company traded hands, compared to its average volume of 3,000,289. The firm’s 50 day simple moving average is $198.25 and its two-hundred day simple moving average is $196.22. Honeywell International Inc. has a 1-year low of $174.88 and a 1-year high of $210.87. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.27 and a quick ratio of 0.93. The firm has a market cap of $125.72 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.23 and a beta of 1.02.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Thursday, April 25th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.08. Honeywell International had a net margin of 15.43% and a return on equity of 35.17%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same period last year, the firm earned $2.07 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that Honeywell International Inc. will post 9.94 EPS for the current fiscal year.

Honeywell International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $1.08 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.24%. Honeywell International’s dividend payout ratio (DPR) is 51.00%.

Insider Transactions at Honeywell International

In other news, Director Darius Adamczyk sold 25,500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $197.19, for a total transaction of $5,028,345.00. Following the completion of the transaction, the director now directly owns 183,400 shares of the company’s stock, valued at approximately $36,164,646. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

About Honeywell International

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company's Aerospace 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 thermal systems, as well as wireless connectivity services.