Concurrent Investment Advisors LLC Boosts Stake in Honeywell International Inc. (NASDAQ:HON)

Concurrent Investment Advisors LLC lifted its stake in Honeywell International Inc. (NASDAQ:HON) by 54.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,539 shares of the conglomerate’s stock after acquiring an additional 6,196 shares during the period. Concurrent Investment Advisors LLC’s holdings in Honeywell International were worth $3,745,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HON. LGT Group Foundation acquired a new position in shares of Honeywell International during the first quarter worth $26,000. Altshuler Shaham Ltd acquired a new position in shares of Honeywell International during the fourth quarter valued at about $27,000. Scarborough Advisors LLC purchased a new position in shares of Honeywell International in the 4th quarter valued at approximately $27,000. Richardson Capital Management LLC acquired a new stake in Honeywell International in the 1st quarter worth approximately $35,000. Finally, Financial Connections Group Inc. acquired a new stake in Honeywell International in the 2nd quarter worth approximately $38,000. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Honeywell International Price Performance

HON stock traded up $0.40 during midday trading on Friday, reaching $207.91. The stock had a trading volume of 1,923,464 shares, compared to its average volume of 2,891,480. Honeywell International Inc. has a 52-week low of $174.88 and a 52-week high of $220.79. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 1.19. The company’s fifty day simple moving average is $207.45 and its 200 day simple moving average is $202.87. The company has a market cap of $135.39 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 2.32 and a beta of 1.04.

Honeywell International (NASDAQ:HON) last released its earnings results on Thursday, July 25th. The conglomerate reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.07. The business had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.41 billion. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $2.23 EPS. As a group, sell-side analysts predict that Honeywell International Inc. will post 10.14 earnings per share for the current fiscal year.

Honeywell International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 2.08%. Honeywell International’s dividend payout ratio is currently 50.06%.

Wall Street Analysts Forecast Growth

HON has been the subject of a number of research reports. Royal Bank of Canada lowered their price target on Honeywell International from $218.00 to $214.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Wells Fargo & Company dropped their target price on Honeywell International from $220.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Daiwa America raised shares of Honeywell International to a “moderate buy” rating in a research report on Wednesday, June 5th. Citigroup increased their price objective on shares of Honeywell International from $243.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, StockNews.com downgraded shares of Honeywell International from a “buy” rating to a “hold” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $225.00.

About Honeywell International

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company's Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.