Allstate Corp Invests $4.37 Million in Honeywell International Inc. (NASDAQ:HON)

Allstate Corp bought a new stake in shares of Honeywell International Inc. (NASDAQ:HON) in the 4th quarter, Holdings Channel.com reports. The firm bought 19,364 shares of the conglomerate’s stock, valued at approximately $4,374,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Honeywell International during the 4th quarter valued at $435,786,000. ING Groep NV lifted its position in Honeywell International by 884.0% during the fourth quarter. ING Groep NV now owns 1,752,472 shares of the conglomerate’s stock valued at $395,866,000 after purchasing an additional 1,574,376 shares in the last quarter. Wellington Management Group LLP lifted its position in Honeywell International by 8.4% during the third quarter. Wellington Management Group LLP now owns 17,826,700 shares of the conglomerate’s stock valued at $3,684,957,000 after purchasing an additional 1,376,479 shares in the last quarter. Cibc World Markets Corp grew its holdings in Honeywell International by 411.8% during the fourth quarter. Cibc World Markets Corp now owns 1,265,358 shares of the conglomerate’s stock valued at $285,832,000 after purchasing an additional 1,018,099 shares during the period. Finally, Boston Partners raised its stake in shares of Honeywell International by 29.2% in the fourth quarter. Boston Partners now owns 2,994,634 shares of the conglomerate’s stock worth $675,986,000 after buying an additional 677,213 shares during the period. 75.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Honeywell International news, VP Anne T. Madden sold 28,885 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $207.89, for a total value of $6,004,902.65. Following the completion of the sale, the vice president now owns 41,580 shares of the company’s stock, valued at $8,644,066.20. This trade represents a 40.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

Honeywell International Price Performance

Honeywell International stock opened at $210.34 on Friday. Honeywell International Inc. has a 52-week low of $189.75 and a 52-week high of $242.77. The company has a market cap of $136.70 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.51 and a beta of 1.08. The firm’s fifty day moving average is $213.21 and its 200 day moving average is $216.87. The company has a quick ratio of 1.01, a current ratio of 1.31 and a debt-to-equity ratio of 1.33.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.10. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. Sell-side analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $1.13 per share. The ex-dividend date was Friday, February 28th. This represents a $4.52 annualized dividend and a yield of 2.15%. Honeywell International’s payout ratio is presently 51.89%.

Wall Street Analyst Weigh In

HON has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded Honeywell International from a “hold” rating to a “buy” rating and boosted their price objective for the company from $236.00 to $260.00 in a research note on Friday, February 7th. StockNews.com lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research report on Monday, December 23rd. HSBC upgraded shares of Honeywell International from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research note on Wednesday, December 11th. Citigroup lowered their price objective on Honeywell International from $268.00 to $266.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Hsbc Global Res raised Honeywell International to a “strong-buy” rating in a research note on Wednesday, December 11th. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $249.08.

Honeywell International Company Profile

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.