Honeywell International Inc. (NYSE:HON) declared a quarterly dividend on Thursday, February 8th, RTT News reports. Shareholders of record on Friday, February 23rd will be given a dividend of 0.745 per share by the conglomerate on Friday, March 9th. This represents a $2.98 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, February 22nd.
Honeywell International has increased its dividend by an average of 13.6% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Honeywell International has a payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Honeywell International to earn $8.75 per share next year, which means the company should continue to be able to cover its $2.98 annual dividend with an expected future payout ratio of 34.1%.
Honeywell International (HON) opened at $154.34 on Wednesday. The firm has a market capitalization of $115,830.86, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. Honeywell International has a 1 year low of $122.40 and a 1 year high of $165.13. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.38.
Honeywell International (NYSE:HON) last posted its quarterly earnings results on Friday, January 26th. The conglomerate reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.01. The firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.80 billion. Honeywell International had a return on equity of 27.27% and a net margin of 4.08%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 EPS. sell-side analysts forecast that Honeywell International will post 7.97 earnings per share for the current fiscal year.
In related news, Director Linnet F. Deily sold 2,886 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $147.71, for a total transaction of $426,291.06. Following the transaction, the director now directly owns 9,105 shares of the company’s stock, valued at approximately $1,344,899.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.56% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its holdings in Honeywell International by 4,986.7% in the 2nd quarter. Janus Henderson Group PLC now owns 4,395,092 shares of the conglomerate’s stock valued at $585,822,000 after buying an additional 4,308,688 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Honeywell International in the 2nd quarter valued at $6,902,000. AHL Partners LLP grew its holdings in Honeywell International by 294.7% in the 2nd quarter. AHL Partners LLP now owns 43,668 shares of the conglomerate’s stock valued at $5,821,000 after buying an additional 32,605 shares in the last quarter. Shelton Capital Management acquired a new position in Honeywell International in the 2nd quarter valued at $3,401,000. Finally, Ontario Teachers Pension Plan Board grew its holdings in Honeywell International by 31.6% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 91,728 shares of the conglomerate’s stock valued at $12,226,000 after buying an additional 22,044 shares in the last quarter. 75.73% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on HON. Stifel Nicolaus reaffirmed a “buy” rating and set a $165.00 price target on shares of Honeywell International in a research report on Friday, February 16th. Cowen reaffirmed a “buy” rating and set a $168.00 price target on shares of Honeywell International in a research report on Monday, January 22nd. Jefferies Group boosted their price target on Honeywell International from $162.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Robert W. Baird reaffirmed a “buy” rating and set a $187.00 price target on shares of Honeywell International in a research report on Friday, January 26th. Finally, Bank of America boosted their price target on Honeywell International from $117.12 to $168.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $165.67.
Honeywell International declared that its board has authorized a stock buyback program on Friday, December 8th that authorizes the company to buyback $6.50 billion in outstanding shares. This buyback authorization authorizes the conglomerate to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
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About Honeywell International
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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