City Holding Co. Takes Position in Honeywell International Inc. (NYSE:HON)
City Holding Co. acquired a new stake in shares of Honeywell International Inc. (NYSE:HON) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,606 shares of the conglomerate’s stock, valued at approximately $519,000.
Other hedge funds also recently modified their holdings of the company. Weatherly Asset Management L. P. grew its stake in Honeywell International by 3.9% in the second quarter. Weatherly Asset Management L. P. now owns 8,543 shares of the conglomerate’s stock worth $1,231,000 after purchasing an additional 323 shares in the last quarter. Parthenon LLC grew its stake in Honeywell International by 16.0% in the second quarter. Parthenon LLC now owns 2,392 shares of the conglomerate’s stock worth $345,000 after purchasing an additional 330 shares in the last quarter. Bank of The Ozarks grew its stake in Honeywell International by 3.1% in the second quarter. Bank of The Ozarks now owns 11,127 shares of the conglomerate’s stock worth $1,603,000 after purchasing an additional 334 shares in the last quarter. Thompson Davis & CO. Inc. grew its stake in Honeywell International by 40.6% in the second quarter. Thompson Davis & CO. Inc. now owns 1,195 shares of the conglomerate’s stock worth $172,000 after purchasing an additional 345 shares in the last quarter. Finally, InterOcean Capital LLC grew its stake in Honeywell International by 15.4% in the second quarter. InterOcean Capital LLC now owns 2,637 shares of the conglomerate’s stock worth $380,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 74.60% of the company’s stock.
Several analysts have issued reports on the company. MED assumed coverage on Honeywell International in a research report on Thursday, July 12th. They set a “buy” rating and a $166.00 target price on the stock. ValuEngine raised Honeywell International from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research raised Honeywell International from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a research report on Tuesday, July 31st. Barclays raised their price objective on Honeywell International from $176.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 24th. Finally, Citigroup raised their price objective on Honeywell International from $191.00 to $196.00 and gave the stock a “$153.70” rating in a research report on Monday, July 23rd. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Honeywell International currently has an average rating of “Buy” and a consensus price target of $174.79.
Honeywell International (NYSE:HON) last posted its earnings results on Friday, July 20th. The conglomerate reported $2.12 EPS for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.11. Honeywell International had a return on equity of 31.46% and a net margin of 3.88%. The firm had revenue of $10.92 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period last year, the firm earned $1.80 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Honeywell International Inc. will post 8.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.10%. This is a boost from Honeywell International’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, November 15th. Honeywell International’s payout ratio is presently 41.91%.
In other news, insider Vimal Kapur sold 9,996 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $159.25, for a total transaction of $1,591,863.00. Following the transaction, the insider now directly owns 16,131 shares in the company, valued at approximately $2,568,861.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Linnet F. Deily sold 3,066 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $158.12, for a total value of $484,795.92. Following the transaction, the director now owns 11,787 shares in the company, valued at $1,863,760.44. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.
Honeywell International 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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