Stonegate Investment Group LLC Grows Stock Holdings in Honeywell International Inc. (NASDAQ:HON)

Stonegate Investment Group LLC lifted its position in shares of Honeywell International Inc. (NASDAQ:HON) by 21.9% during the third quarter, HoldingsChannel reports. The firm owned 326,314 shares of the conglomerate’s stock after purchasing an additional 58,698 shares during the quarter. Honeywell International comprises about 1.8% of Stonegate Investment Group LLC’s holdings, making the stock its 22nd largest holding. Stonegate Investment Group LLC’s holdings in Honeywell International were worth $67,452,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in HON. LGT Group Foundation bought a new position in shares of Honeywell International during the first quarter worth about $26,000. Richardson Capital Management LLC purchased a new stake in shares of Honeywell International in the first quarter worth approximately $35,000. Financial Connections Group Inc. purchased a new stake in shares of Honeywell International in the second quarter worth approximately $38,000. Pathway Financial Advisers LLC purchased a new stake in shares of Honeywell International in the first quarter worth approximately $39,000. Finally, New Covenant Trust Company N.A. acquired a new position in Honeywell International in the first quarter worth approximately $42,000. 75.91% of the stock is owned by institutional investors and hedge funds.

Honeywell International Stock Down 0.1 %

Shares of NASDAQ:HON traded down $0.12 during trading on Friday, hitting $219.43. 465,617 shares of the company’s stock traded hands, compared to its average volume of 2,821,204. The company has a market cap of $142.89 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 2.45 and a beta of 1.03. The company has a 50-day moving average price of $205.05 and a 200-day moving average price of $204.62. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 1.19. Honeywell International Inc. has a 52 week low of $174.88 and a 52 week high of $220.79.

Honeywell International (NASDAQ:HON) last released its earnings results on Thursday, July 25th. The conglomerate reported $2.49 EPS for the quarter, beating the consensus estimate of $2.42 by $0.07. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The firm had revenue of $9.58 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter in the previous year, the business posted $2.23 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Honeywell International Inc. will post 10.1 EPS for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.08. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.06%. Honeywell International’s payout ratio is presently 52.38%.

Wall Street Analysts Forecast Growth

HON has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded shares of Honeywell International from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $225.00 to $235.00 in a research note on Thursday, October 10th. StockNews.com downgraded shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Wells Fargo & Company reduced their target price on Honeywell International from $215.00 to $207.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $214.00 target price on shares of Honeywell International in a research report on Thursday, September 26th. Finally, Morgan Stanley began coverage on Honeywell International in a research report on Friday, September 6th. They issued an “equal weight” rating and a $210.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Honeywell International presently has a consensus rating of “Hold” and an average target price of $223.56.

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.