Traders Buy Shares of Honeywell (HON) on Weakness

Traders purchased shares of Honeywell (NYSE:HON) on weakness during trading hours on Friday. $84.24 million flowed into the stock on the tick-up and $47.01 million flowed out of the stock on the tick-down, for a money net flow of $37.23 million into the stock. Of all companies tracked, Honeywell had the 24th highest net in-flow for the day. Honeywell traded down ($0.42) for the day and closed at $150.66

HON has been the subject of a number of analyst reports. TheStreet upgraded shares of Honeywell from a “c+” rating to an “a-” rating in a research report on Friday, April 20th. Zacks Investment Research upgraded shares of Honeywell from a “hold” rating to a “buy” rating and set a $169.00 price target for the company in a research report on Tuesday, April 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $165.00 price target on shares of Honeywell in a research report on Friday, February 16th. Finally, ValuEngine upgraded shares of Honeywell from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $167.53.

The stock has a market cap of $112.53 billion, a P/E ratio of 21.19, a P/E/G ratio of 2.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.11 and a current ratio of 1.36.

Honeywell (NYSE:HON) last announced its quarterly earnings data on Friday, April 20th. The conglomerate reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. Honeywell had a net margin of 4.26% and a return on equity of 29.25%. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $10.03 billion. During the same period in the previous year, the business earned $1.71 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. equities research analysts forecast that Honeywell will post 8.02 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Friday, May 18th will be paid a dividend of $0.745 per share. The ex-dividend date is Thursday, May 17th. This represents a $2.98 dividend on an annualized basis and a dividend yield of 1.98%. Honeywell’s payout ratio is presently 41.91%.

In other Honeywell news, Director Jaime Chico /Fa Pardo sold 2,868 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $156.36, for a total transaction of $448,440.48. Following the sale, the director now owns 41,092 shares of the company’s stock, valued at $6,425,145.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.33% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Honeywell by 0.8% in the first quarter. BlackRock Inc. now owns 47,946,537 shares of the conglomerate’s stock worth $6,928,754,000 after purchasing an additional 371,519 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Honeywell by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 8,525,277 shares of the conglomerate’s stock worth $1,304,881,000 after purchasing an additional 369,046 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Honeywell by 3.2% in the fourth quarter. Clearbridge Investments LLC now owns 6,052,733 shares of the conglomerate’s stock worth $928,247,000 after purchasing an additional 187,212 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Honeywell by 4.1% in the fourth quarter. Wells Fargo & Company MN now owns 4,880,271 shares of the conglomerate’s stock worth $748,439,000 after purchasing an additional 193,523 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Honeywell by 7.2% in the third quarter. Janus Henderson Group PLC now owns 4,712,654 shares of the conglomerate’s stock worth $667,969,000 after purchasing an additional 317,562 shares during the last quarter. 74.46% of the stock is currently owned by hedge funds and other institutional investors.

Honeywell Company Profile

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.

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