KBC Group NV Raises Stake in Honeywell International Inc. $HON

KBC Group NV grew its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,238 shares of the conglomerate’s stock after acquiring an additional 3,232 shares during the quarter. KBC Group NV’s holdings in Honeywell International were worth $12,631,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of Honeywell International by 9.1% in the fourth quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate’s stock worth $4,302,000 after purchasing an additional 1,582 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in Honeywell International by 29.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,273 shares of the conglomerate’s stock worth $270,000 after buying an additional 292 shares during the period. Concord Wealth Partners grew its position in shares of Honeywell International by 86.7% in the 1st quarter. Concord Wealth Partners now owns 478 shares of the conglomerate’s stock worth $101,000 after buying an additional 222 shares during the last quarter. Bailard Inc. increased its stake in shares of Honeywell International by 2.1% during the first quarter. Bailard Inc. now owns 13,887 shares of the conglomerate’s stock valued at $2,941,000 after buying an additional 289 shares during the period. Finally, Forum Financial Management LP raised its holdings in shares of Honeywell International by 1.7% during the first quarter. Forum Financial Management LP now owns 5,368 shares of the conglomerate’s stock valued at $1,137,000 after acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Rothschild & Co Redburn cut their price target on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. TD Cowen dropped their target price on shares of Honeywell International from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, November 10th. HSBC reduced their price target on shares of Honeywell International from $290.00 to $266.00 and set a “buy” rating on the stock in a research report on Tuesday. Barclays increased their price target on shares of Honeywell International from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Honeywell International from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.33.

Insider Activity at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the transaction, the chief executive officer directly owned 10,334 shares in the company, valued at $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Honeywell International Trading Down 0.4%

NASDAQ:HON opened at $199.04 on Friday. The firm has a market capitalization of $126.37 billion, a P/E ratio of 20.97, a PEG ratio of 2.73 and a beta of 1.07. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04. Honeywell International Inc. has a one year low of $169.21 and a one year high of $228.04. The company’s 50-day simple moving average is $206.96 and its 200 day simple moving average is $218.05.

Honeywell International (NASDAQ:HON) last announced its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business had revenue of $8.95 billion during the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. As a group, analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 2.4%. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International’s dividend payout ratio is presently 50.16%.

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.