Magnolia Capital Advisors LLC Invests $4.63 Million in Honeywell International Inc. (NASDAQ:HON)

Magnolia Capital Advisors LLC purchased a new position in Honeywell International Inc. (NASDAQ:HON) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,693 shares of the conglomerate’s stock, valued at approximately $4,632,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Honeywell International by 22.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,587,718 shares of the conglomerate’s stock valued at $1,967,880,000 after buying an additional 1,746,759 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Honeywell International by 3.9% in the second quarter. Ameriprise Financial Inc. now owns 8,365,840 shares of the conglomerate’s stock valued at $1,786,449,000 after purchasing an additional 310,807 shares during the period. Northern Trust Corp increased its position in Honeywell International by 0.3% during the fourth quarter. Northern Trust Corp now owns 6,451,134 shares of the conglomerate’s stock worth $1,352,867,000 after purchasing an additional 17,591 shares during the last quarter. Legal & General Group Plc boosted its holdings in Honeywell International by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 4,910,551 shares of the conglomerate’s stock valued at $1,048,600,000 after purchasing an additional 42,305 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Honeywell International by 6.7% in the 1st quarter. Capital Research Global Investors now owns 3,402,252 shares of the conglomerate’s stock valued at $698,312,000 after buying an additional 212,327 shares during the period. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Stock Performance

Shares of Honeywell International stock opened at $207.63 on Friday. The firm’s 50 day moving average is $203.38 and its two-hundred day moving average is $203.65. Honeywell International Inc. has a 52 week low of $174.88 and a 52 week high of $220.79. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $135.21 billion, a P/E ratio of 24.06, a P/E/G ratio of 2.32 and a beta of 1.03.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.07. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. The company had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the prior year, the firm posted $2.23 earnings per share. Honeywell International’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts forecast that Honeywell International Inc. will post 10.11 EPS for the current fiscal year.

Honeywell International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be given a dividend of $1.13 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.52 annualized dividend and a yield of 2.18%. Honeywell International’s payout ratio is 50.06%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Citigroup lifted their price target on shares of Honeywell International from $243.00 to $244.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. StockNews.com downgraded Honeywell International from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Wells Fargo & Company lowered their price target on Honeywell International from $220.00 to $215.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Royal Bank of Canada restated a “sector perform” rating and set a $214.00 price target on shares of Honeywell International in a research note on Thursday. Finally, Daiwa America raised Honeywell International to a “moderate buy” rating in a research note on Wednesday, June 5th. Six 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.com, Honeywell International presently has an average rating of “Hold” and an average price target of $223.13.

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.