Honeywell International Inc. (NYSE:HON) shares hit a new 52-week high on Friday after the company announced better than expected quarterly earnings. The company traded as high as $136.58 and last traded at $136.61, with a volume of 2,184,918 shares. The stock had previously closed at $134.95.
The conglomerate reported $1.80 EPS for the quarter, topping the consensus estimate of $1.78 by $0.02. Honeywell International had a return on equity of 26.60% and a net margin of 12.68%. The business had revenue of $10.08 billion during the quarter, compared to analyst estimates of $9.89 billion. During the same period last year, the business posted $1.70 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be given a dividend of $0.665 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.66 annualized dividend and a dividend yield of 1.91%. Honeywell International’s dividend payout ratio is currently 41.24%.
HON has been the subject of several research analyst reports. Zacks Investment Research upgraded Honeywell International from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a research report on Thursday, July 20th. BidaskClub lowered Honeywell International from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada lifted their target price on Honeywell International from $145.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $148.00 target price on shares of Honeywell International in a report on Tuesday, April 25th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $122.00 target price on shares of Honeywell International in a report on Friday, April 21st. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $138.58.
In other news, CFO Thomas A. Szlosek sold 803 shares of Honeywell International stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $137.02, for a total transaction of $110,027.06. Following the sale, the chief financial officer now owns 5,702 shares in the company, valued at $781,288.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy O. Mahoney sold 341,701 shares of Honeywell International stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $138.08, for a total value of $47,182,074.08. Following the sale, the insider now owns 294,155 shares in the company, valued at approximately $40,616,922.40. The disclosure for this sale can be found here. Insiders have sold 468,885 shares of company stock worth $63,945,128 in the last quarter. Insiders own 1.56% of the company’s stock.
Several hedge funds have recently bought and sold shares of HON. Burt Wealth Advisors increased its stake in Honeywell International by 65.4% in the second quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock worth $101,000 after buying an additional 300 shares during the last quarter. Mosaic Family Wealth LLC increased its stake in Honeywell International by 11.4% in the second quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock worth $102,000 after buying an additional 78 shares during the last quarter. Guidant Wealth Advisors increased its stake in Honeywell International by 15.8% in the second quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock worth $102,000 after buying an additional 104 shares during the last quarter. Jolley Asset Management LLC increased its stake in Honeywell International by 6.9% in the second quarter. Jolley Asset Management LLC now owns 775 shares of the conglomerate’s stock worth $103,000 after buying an additional 50 shares during the last quarter. Finally, Crestwood Advisors Group LLC purchased a new stake in Honeywell International during the first quarter worth about $100,000. Institutional investors and hedge funds own 76.43% of the company’s stock.
The stock has a market cap of $105.92 billion, a price-to-earnings ratio of 21.595 and a beta of 0.94. The stock has a 50 day moving average price of $135.02 and a 200-day moving average price of $128.45.
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Honeywell International Company Profile
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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