The Ariel Capital Advisors LLC Acquires New Stake in Honeywell International Inc. (HON)

The Ariel Capital Advisors LLC Acquires New Stake in Honeywell International Inc. (HON)

Ariel Capital Advisors LLC purchased a new position in Honeywell International Inc. (NYSE:HON) during the second quarter, Holdings Channel reports. The fund purchased 12,032 shares of the company’s stock, valued at approximately $1,400,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Kanaly Trust Co boosted its position in Honeywell International by 0.8% in the second quarter. Kanaly Trust Co now owns 1,823 shares of the company’s stock worth $212,000 after buying an additional 14 shares during the last quarter. Arvest Bank Trust Division boosted its position in Honeywell International by 0.7% in the first quarter. Arvest Bank Trust Division now owns 3,402 shares of the company’s stock worth $381,000 after buying an additional 25 shares during the last quarter. Eqis Capital Management Inc. boosted its position in Honeywell International by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 4,570 shares of the company’s stock worth $532,000 after buying an additional 27 shares during the last quarter. Bollard Group LLC boosted its position in Honeywell International by 0.4% in the second quarter. Bollard Group LLC now owns 12,485 shares of the company’s stock worth $1,452,000 after buying an additional 46 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD boosted its position in Honeywell International by 0.3% in the second quarter. Mount Vernon Associates Inc. MD now owns 14,957 shares of the company’s stock worth $1,740,000 after buying an additional 50 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Shares of Honeywell International Inc. (NYSE:HON) traded down 7.50% during mid-day trading on Friday, hitting $106.94. The stock had a trading volume of 20,446,322 shares. Honeywell International Inc. has a 12-month low of $93.71 and a 12-month high of $120.02. The stock has a market cap of $81.37 billion, a P/E ratio of 16.92 and a beta of 1.05. The company’s 50 day moving average price is $115.35 and its 200 day moving average price is $115.10.

Honeywell International (NYSE:HON) last issued its quarterly earnings data on Friday, July 22nd. The company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.02. Honeywell International had a return on equity of 26.84% and a net margin of 12.60%. The firm earned $9.78 billion during the quarter, compared to the consensus estimate of $10.13 billion. During the same period in the previous year, the firm posted $1.51 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict that Honeywell International Inc. will post $6.68 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were issued a $0.595 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $2.38 annualized dividend and a yield of 2.23%. Honeywell International’s dividend payout ratio (DPR) is presently 37.66%.

A number of research firms recently weighed in on HON. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Honeywell International in a report on Saturday, July 9th. Jefferies Group reissued a “buy” rating and set a $130.00 target price on shares of Honeywell International in a report on Friday. Bank of America Corp. reissued a “buy” rating and set a $125.00 target price on shares of Honeywell International in a report on Friday. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $128.00 target price on shares of Honeywell International in a report on Monday, July 25th. Finally, Barclays PLC increased their target price on Honeywell International from $127.00 to $131.00 and gave the company an “overweight” rating in a report on Monday, July 25th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $122.64.

In other Honeywell International news, CEO David M. Cote sold 534,505 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $116.15, for a total value of $62,082,755.75. Following the completion of the transaction, the chief executive officer now directly owns 700,000 shares in the company, valued at approximately $81,305,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Andreas Kramvis sold 1,850 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $114.80, for a total value of $212,380.00. Following the completion of the transaction, the insider now owns 66,441 shares of the company’s stock, valued at $7,627,426.80. The disclosure for this sale can be found here. 1.83% of the stock is owned by company insiders.

Honeywell International Company Profile

Honeywell International Inc (Honeywell) is a technology and manufacturing company. The Company operates in three segments: Aerospace, Automation and Control Solutions (ACS), and Performance Materials and Technologies (PMT). Its Aerospace segment supplies aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers, airlines, aircraft operators, military services, and defense and space contractors.

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