Cornerstone Wealth Group LLC Invests $4.61 Million in Honeywell International Inc. (NASDAQ:HON)

Cornerstone Wealth Group LLC bought a new stake in Honeywell International Inc. (NASDAQ:HON) in the first quarter, HoldingsChannel reports. The fund bought 22,436 shares of the conglomerate’s stock, valued at approximately $4,605,000.

Other institutional investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in Honeywell International in the fourth quarter valued at approximately $27,000. Scarborough Advisors LLC acquired a new position in Honeywell International during the fourth quarter valued at approximately $27,000. Cordant Inc. acquired a new position in Honeywell International during the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. acquired a new position in Honeywell International during the fourth quarter valued at approximately $31,000. Finally, Richardson Capital Management LLC acquired a new position in Honeywell International during the first quarter valued at approximately $35,000. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HON shares. Daiwa America raised shares of Honeywell International to a “moderate buy” rating in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $215.00 price target (down from $227.00) on shares of Honeywell International in a research report on Tuesday, April 16th. Royal Bank of Canada reduced their price target on shares of Honeywell International from $222.00 to $218.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 4th. UBS Group raised shares of Honeywell International from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $175.00 to $215.00 in a research report on Monday, June 10th. Finally, Citigroup boosted their target price on shares of Honeywell International from $243.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $224.75.

Honeywell International Stock Down 0.4 %

Shares of NASDAQ:HON traded down $0.84 during midday trading on Friday, reaching $213.54. The company had a trading volume of 4,804,816 shares, compared to its average volume of 2,832,742. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.66 and a quick ratio of 1.28. The stock’s fifty day moving average price is $203.84 and its 200-day moving average price is $201.43. The stock has a market capitalization of $139.06 billion, a P/E ratio of 24.74, a PEG ratio of 2.22 and a beta of 1.03. Honeywell International Inc. has a one year low of $174.88 and a one year high of $218.36.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings results on Thursday, April 25th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.08. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.03 billion. Honeywell International had a net margin of 15.52% and a return on equity of 35.88%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 earnings per share. Equities research analysts expect that Honeywell International Inc. will post 10.11 earnings per share for the current fiscal year.

Honeywell International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a dividend of $1.08 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $4.32 annualized dividend and a yield of 2.02%. Honeywell International’s payout ratio is 50.06%.

Insider Buying and Selling at Honeywell International

In other Honeywell International news, Director Darius Adamczyk sold 28,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $203.96, for a total transaction of $5,812,860.00. Following the completion of the sale, the director now owns 203,510 shares in the company, valued at $41,507,899.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Gregory P. Lewis sold 25,209 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $193.06, for a total transaction of $4,866,849.54. Following the completion of the transaction, the chief financial officer now owns 55,471 shares in the company, valued at $10,709,231.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Darius Adamczyk sold 28,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $203.96, for a total transaction of $5,812,860.00. Following the transaction, the director now owns 203,510 shares of the company’s stock, valued at approximately $41,507,899.60. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Honeywell International Profile

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.