Caxton Associates LP Takes $7.33 Million Position in Honeywell International Inc. (HON)
Caxton Associates LP purchased a new stake in Honeywell International Inc. (NYSE:HON) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,000 shares of the conglomerate’s stock, valued at approximately $7,331,000.
A number of other institutional investors also recently made changes to their positions in HON. Cubist Systematic Strategies LLC grew its position in shares of Honeywell International by 854.9% during the second quarter. Cubist Systematic Strategies LLC now owns 14,056 shares of the conglomerate’s stock worth $1,874,000 after acquiring an additional 12,584 shares during the last quarter. Sciencast Management LP grew its position in shares of Honeywell International by 54.4% during the second quarter. Sciencast Management LP now owns 11,040 shares of the conglomerate’s stock worth $1,472,000 after acquiring an additional 3,890 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Honeywell International during the second quarter worth approximately $6,902,000. ETF Managers Group LLC purchased a new position in shares of Honeywell International during the second quarter worth approximately $400,000. Finally, Peapack Gladstone Financial Corp grew its position in shares of Honeywell International by 4.6% during the second quarter. Peapack Gladstone Financial Corp now owns 27,740 shares of the conglomerate’s stock worth $3,697,000 after acquiring an additional 1,225 shares during the last quarter. Institutional investors own 76.04% of the company’s stock.
In other Honeywell International news, Director Bradley T. Sheares sold 1,328 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $146.41, for a total value of $194,432.48. Following the completion of the sale, the director now owns 4,002 shares of the company’s stock, valued at $585,932.82. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Krishna Mikkilineni sold 13,074 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total value of $1,897,298.88. Following the completion of the sale, the vice president now directly owns 104,998 shares of the company’s stock, valued at approximately $15,237,309.76. The disclosure for this sale can be found here. 1.56% of the stock is owned by company insiders.
Honeywell International (NYSE:HON) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.75. Honeywell International had a return on equity of 26.26% and a net margin of 12.85%. The firm had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $10.05 billion. During the same period last year, the company earned $1.60 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. research analysts expect that Honeywell International Inc. will post 7.06 EPS for the current year.
Honeywell International announced that its board has approved a share repurchase plan on Friday, December 8th that allows the company to repurchase $6.50 billion in shares. This repurchase authorization allows the conglomerate to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a dividend of $0.745 per share. The ex-dividend date was Thursday, November 16th. This is an increase from Honeywell International’s previous quarterly dividend of $0.67. This represents a $2.98 annualized dividend and a dividend yield of 1.95%. Honeywell International’s dividend payout ratio (DPR) is currently 45.15%.
HON has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Honeywell International from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research report on Thursday, September 21st. Deutsche Bank restated a “buy” rating and set a $171.00 target price on shares of Honeywell International in a research report on Tuesday, November 28th. Royal Bank of Canada raised their target price on shares of Honeywell International from $148.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. Citigroup raised their target price on shares of Honeywell International from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Finally, Vertical Research restated a “buy” rating on shares of Honeywell International in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $154.00.
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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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