Convergence Investment Partners LLC Acquires 4,829 Shares of Honeywell International Inc. (NASDAQ:HON)

Convergence Investment Partners LLC increased its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 373.2% in the 2nd quarter, Holdings Channel reports. The firm owned 6,123 shares of the conglomerate’s stock after buying an additional 4,829 shares during the period. Convergence Investment Partners LLC’s holdings in Honeywell International were worth $1,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LGT Group Foundation purchased a new stake in shares of Honeywell International in the 1st quarter worth $26,000. Altshuler Shaham Ltd bought a new position in shares of Honeywell International in the fourth quarter worth about $27,000. Scarborough Advisors LLC bought a new stake in Honeywell International during the 4th quarter worth approximately $27,000. Richardson Capital Management LLC bought a new position in shares of Honeywell International in the first quarter worth approximately $35,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Honeywell International in the second quarter worth $38,000. Institutional investors own 75.91% of the company’s stock.

Honeywell International Stock Performance

NASDAQ:HON traded up $0.40 during mid-day trading on Monday, hitting $207.91. The company’s stock had a trading volume of 1,923,400 shares, compared to its average volume of 2,891,480. The stock has a market cap of $135.39 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 2.37 and a beta of 1.04. The business’s fifty day moving average is $207.45 and its two-hundred day moving average is $202.99. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.21 and a quick ratio of 0.91. Honeywell International Inc. has a 1 year low of $174.88 and a 1 year high of $220.79.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.07. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The firm had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period in the previous year, the company posted $2.23 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Honeywell International Inc. will post 10.12 EPS for the current fiscal year.

Honeywell International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, August 16th. Honeywell International’s payout ratio is 50.06%.

Analysts Set New Price Targets

HON has been the subject of a number of recent analyst reports. StockNews.com lowered Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday. UBS Group upgraded Honeywell International from a “sell” rating to a “neutral” rating and increased their target price for the company from $175.00 to $215.00 in a research report on Monday, June 10th. Wells Fargo & Company decreased their price target on shares of Honeywell International from $220.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Friday, July 26th. Daiwa America raised shares of Honeywell International to a “moderate buy” rating in a research note on Wednesday, June 5th. Finally, Citigroup lifted their price target on Honeywell International from $243.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Honeywell International has an average rating of “Hold” and an average target price of $225.00.

Honeywell International 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.