Providence First Trust Co Invests $2.76 Million in Honeywell International Inc. (NYSE:HON) Stock

Providence First Trust Co bought a new stake in shares of Honeywell International Inc. (NYSE:HON) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,456 shares of the conglomerate’s stock, valued at approximately $2,758,000. Honeywell International makes up approximately 2.4% of Providence First Trust Co’s holdings, making the stock its 8th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schulhoff & Co. Inc. lifted its stake in Honeywell International by 1.8% in the 2nd quarter. Schulhoff & Co. Inc. now owns 11,440 shares of the conglomerate’s stock worth $1,524,000 after purchasing an additional 203 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Honeywell International by 5.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 217,832 shares of the conglomerate’s stock valued at $29,184,000 after buying an additional 11,091 shares in the last quarter. YHB Investment Advisors Inc. raised its position in shares of Honeywell International by 30.7% during the 2nd quarter. YHB Investment Advisors Inc. now owns 25,186 shares of the conglomerate’s stock valued at $3,357,000 after buying an additional 5,913 shares in the last quarter. AGF Investments America Inc. raised its position in shares of Honeywell International by 3.6% during the 2nd quarter. AGF Investments America Inc. now owns 47,702 shares of the conglomerate’s stock valued at $6,358,000 after buying an additional 1,668 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Honeywell International by 2.8% during the 2nd quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock valued at $6,003,117,000 after buying an additional 1,207,893 shares in the last quarter. Institutional investors own 76.36% of the company’s stock.

Several brokerages have recently issued reports on HON. Cowen restated a “buy” rating and set a $150.00 target price on shares of Honeywell International in a research report on Tuesday, October 10th. Vertical Research reiterated a “buy” rating on shares of Honeywell International in a report on Friday, October 20th. Citigroup upped their price target on shares of Honeywell International from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, October 9th. Oppenheimer upped their price target on shares of Honeywell International from $155.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, December 14th. Finally, Morgan Stanley upped their target price on shares of Honeywell International from $145.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, September 22nd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $160.14.

In other Honeywell International news, Director Bradley T. Sheares sold 1,328 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $146.41, for a total value of $194,432.48. Following the completion of the transaction, the director now owns 4,002 shares of the company’s stock, valued at $585,932.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Krishna Mikkilineni sold 13,074 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the completion of the sale, the vice president now owns 104,998 shares in the company, valued at approximately $15,237,309.76. The disclosure for this sale can be found here. Company insiders own 1.56% of the company’s stock.

Shares of Honeywell International Inc. (HON) opened at $157.89 on Wednesday. Honeywell International Inc. has a 52-week low of $116.98 and a 52-week high of $159.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 1.35. The company has a market cap of $120,385.83, a P/E ratio of 23.92, a P/E/G ratio of 2.43 and a beta of 0.99.

Honeywell International (NYSE:HON) last posted its earnings results on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.75. The company had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. Honeywell International’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.60 earnings per share. equities analysts forecast that Honeywell International Inc. will post 7.1 EPS for the current fiscal year.

Honeywell International announced that its board has authorized a share buyback program on Friday, December 8th that allows the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization allows the conglomerate to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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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.

Institutional Ownership by Quarter for Honeywell International (NYSE:HON)

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