Perigon Wealth Management LLC Raises Position in Honeywell International Inc. $HON

Perigon Wealth Management LLC lifted its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 54.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,784 shares of the conglomerate’s stock after buying an additional 7,285 shares during the period. Perigon Wealth Management LLC’s holdings in Honeywell International were worth $4,375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of HON. Chung Wu Investment Group LLC bought a new stake in shares of Honeywell International in the 2nd quarter worth $26,000. RMG Wealth Management LLC purchased a new position in Honeywell International during the second quarter worth about $33,000. Activest Wealth Management boosted its holdings in Honeywell International by 425.9% during the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after purchasing an additional 115 shares during the last quarter. Howard Hughes Medical Institute bought a new stake in Honeywell International in the 2nd quarter worth about $33,000. Finally, 1248 Management LLC purchased a new stake in Honeywell International in the 1st quarter valued at about $38,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HON shares. Rothschild & Co Redburn cut their target price on Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Barclays dropped their price target on Honeywell International from $269.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, December 24th. BNP Paribas Exane started coverage on Honeywell International in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $195.00 price objective for the company. Argus decreased their target price on Honeywell International from $250.00 to $225.00 in a research report on Friday, November 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Honeywell International in a report on Monday, December 15th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $235.58.

Honeywell International Stock Performance

Shares of HON opened at $197.37 on Monday. Honeywell International Inc. has a 1 year low of $169.21 and a 1 year 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 stock’s fifty day moving average price is $197.71 and its two-hundred day moving average price is $212.22. The firm has a market cap of $125.31 billion, a PE ratio of 20.80, a PEG ratio of 2.88 and a beta of 0.96.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The company had revenue of $8.95 billion during the quarter. 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. On average, equities research analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Company Profile

Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.