AXQ Capital LP Invests $1.61 Million in Honeywell International Inc. $HON

AXQ Capital LP acquired a new stake in Honeywell International Inc. (NASDAQ:HON) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,904 shares of the conglomerate’s stock, valued at approximately $1,608,000.

Other institutional investors also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC acquired a new stake in shares of Honeywell International in the 2nd quarter valued at approximately $26,000. Pandora Wealth Inc. purchased a new position in Honeywell International in the first quarter worth $33,000. RMG Wealth Management LLC acquired a new stake in Honeywell International in the second quarter valued at $33,000. Activest Wealth Management boosted its position in shares of Honeywell International by 425.9% during the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Finally, 1248 Management LLC acquired a new position in shares of Honeywell International during the 1st quarter worth $38,000. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Honeywell International from $271.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Rothschild & Co Redburn reduced their price target on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Bank of America restated an “underperform” rating and issued a $205.00 price target (down previously from $265.00) on shares of Honeywell International in a report on Tuesday. Wells Fargo & Company reduced their price objective on Honeywell International from $230.00 to $218.00 and set an “equal weight” rating for the company in a report on Friday, November 14th. Finally, Jefferies Financial Group decreased their target price on Honeywell International from $230.00 to $220.00 in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.38.

Honeywell International Trading Up 1.0%

NASDAQ HON opened at $190.02 on Friday. The company has a market cap of $120.64 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.73 and a beta of 1.07. Honeywell International Inc. has a 12 month low of $169.21 and a 12 month high of $228.04. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04. The company has a 50-day moving average of $204.74 and a 200-day moving average of $217.32.

Honeywell International (NASDAQ:HON) last released its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) 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 for 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, equities analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, November 14th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s payout ratio is currently 50.16%.

Insider Buying and Selling at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the transaction, the chief executive officer owned 10,334 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Honeywell International Company 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.