Eastern Bank Buys 118,254 Shares of Honeywell International Inc. (NASDAQ:HON)

Eastern Bank boosted its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 121.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,252 shares of the conglomerate’s stock after purchasing an additional 118,254 shares during the quarter. Eastern Bank’s holdings in Honeywell International were worth $44,495,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Honeywell International by 22.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,587,718 shares of the conglomerate’s stock worth $1,967,880,000 after purchasing an additional 1,746,759 shares during the period. Ameriprise Financial Inc. lifted its position in Honeywell International by 3.9% during the second quarter. Ameriprise Financial Inc. now owns 8,365,840 shares of the conglomerate’s stock valued at $1,786,449,000 after purchasing an additional 310,807 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Honeywell International by 0.9% in the second quarter. Legal & General Group Plc now owns 4,910,551 shares of the conglomerate’s stock worth $1,048,600,000 after buying an additional 42,305 shares during the period. Capital Research Global Investors boosted its holdings in shares of Honeywell International by 6.7% during the first quarter. Capital Research Global Investors now owns 3,402,252 shares of the conglomerate’s stock worth $698,312,000 after purchasing an additional 212,327 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Honeywell International by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,950,562 shares of the conglomerate’s stock worth $630,086,000 after buying an additional 325,272 shares during the period. Institutional investors and hedge funds own 75.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on HON shares. StockNews.com cut Honeywell International from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Morgan Stanley initiated coverage on shares of Honeywell International in a research note on Friday, September 6th. They issued an “equal weight” rating and a $210.00 price objective for the company. Wells Fargo & Company dropped their price target on shares of Honeywell International from $215.00 to $207.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. JPMorgan Chase & Co. cut Honeywell International from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $225.00 to $235.00 in a report on Thursday, October 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $214.00 price target on shares of Honeywell International in a report on Thursday, September 26th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Honeywell International currently has a consensus rating of “Hold” and a consensus price target of $223.56.

Honeywell International Stock Performance

NASDAQ HON traded down $0.05 during trading hours on Tuesday, reaching $221.45. The company’s stock had a trading volume of 2,163,899 shares, compared to its average volume of 2,839,731. The business has a 50-day simple moving average of $206.02 and a 200 day simple moving average of $205.01. Honeywell International Inc. has a 52 week low of $174.88 and a 52 week high of $222.98. The stock has a market cap of $144.21 billion, a PE ratio of 25.67, a PEG ratio of 2.45 and a beta of 1.03. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 1.19.

Honeywell International (NASDAQ:HON) last issued its earnings results on Thursday, July 25th. The conglomerate reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.07. The company had revenue of $9.58 billion during 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 company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $2.23 EPS. Equities research analysts predict that Honeywell International Inc. will post 10.1 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Honeywell International’s previous quarterly dividend of $1.08. Honeywell International’s dividend payout ratio is 52.38%.

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.