Cardinal Capital Management Inc. Acquires 3,390 Shares of Honeywell International Inc. $HON

Cardinal Capital Management Inc. raised its holdings in Honeywell International Inc. (NASDAQ:HON) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,797 shares of the conglomerate’s stock after buying an additional 3,390 shares during the quarter. Cardinal Capital Management Inc.’s holdings in Honeywell International were worth $27,533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chung Wu Investment Group LLC bought a new position in Honeywell International in the 2nd quarter worth $26,000. RMG Wealth Management LLC bought a new position in Honeywell International in the second quarter worth about $33,000. Activest Wealth Management raised its stake in Honeywell International by 425.9% in the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after buying an additional 115 shares in the last quarter. Howard Hughes Medical Institute purchased a new stake in Honeywell International in the second quarter worth about $33,000. Finally, 1248 Management LLC bought a new stake in Honeywell International during the 1st quarter valued at approximately $38,000. Institutional investors own 75.91% of the company’s stock.

Honeywell International Stock Performance

Shares of HON stock opened at $197.45 on Tuesday. The company has a market capitalization of $125.36 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 2.59 and a beta of 0.96. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36. Honeywell International Inc. has a one year low of $169.21 and a one year high of $228.04. The company’s 50-day moving average is $199.04 and its 200 day moving average is $214.07.

Honeywell International (NASDAQ:HON) last issued its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The firm had revenue of $8.95 billion for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS and its FY 2023 guidance at 9.100-9.200 EPS. Sell-side analysts expect 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 was paid on Friday, December 5th. Shareholders of record on Friday, November 14th were paid a dividend of $1.19 per share. The ex-dividend date was Friday, November 14th. This represents a $4.76 annualized dividend and a yield of 2.4%. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s dividend payout ratio (DPR) is currently 50.16%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HON shares. Bank of America reissued an “underperform” rating and issued a $205.00 target price (down previously from $265.00) on shares of Honeywell International in a research report on Tuesday, November 18th. TD Cowen lowered their price objective on Honeywell International from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Jefferies Financial Group reduced their target price on shares of Honeywell International from $230.00 to $220.00 in a research report on Monday, November 3rd. BNP Paribas Exane started coverage on shares of Honeywell International in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $195.00 price target for the company. Finally, Royal Bank Of Canada upgraded shares of Honeywell International from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $235.00 to $253.00 in a report on Monday, October 27th. Eight investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Honeywell International currently has an average rating of “Hold” and an average target price of $236.59.

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.