Exchange Traded Concepts LLC Acquires 2,490 Shares of Honeywell International Inc. (NASDAQ:HON)

Exchange Traded Concepts LLC raised its holdings in Honeywell International Inc. (NASDAQ:HON) by 112.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,711 shares of the conglomerate’s stock after buying an additional 2,490 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Honeywell International were worth $974,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. LGT Group Foundation purchased a new stake in Honeywell International in the first quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in shares of Honeywell International during the fourth quarter valued at approximately $27,000. Richardson Capital Management LLC bought a new stake in shares of Honeywell International during the first quarter valued at approximately $35,000. Financial Connections Group Inc. purchased a new stake in Honeywell International in the second quarter worth $38,000. Finally, Pathway Financial Advisers LLC bought a new position in Honeywell International in the first quarter worth $39,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Honeywell International Stock Performance

HON stock opened at $218.96 on Thursday. The stock has a market capitalization of $142.58 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 2.45 and a beta of 1.03. The stock’s 50 day simple moving average is $204.66 and its 200 day simple moving average is $204.51. Honeywell International Inc. has a 12-month low of $174.88 and a 12-month high of $220.79. 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 released its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.49 EPS for the quarter, beating the consensus estimate of $2.42 by $0.07. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The company had revenue of $9.58 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same period last year, the firm posted $2.23 earnings per share. Honeywell International’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Honeywell International Inc. will post 10.1 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a dividend of $1.13 per share. This is an increase from Honeywell International’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, November 15th. This represents a $4.52 dividend on an annualized basis and a yield of 2.06%. Honeywell International’s dividend payout ratio is 52.38%.

Analyst Ratings Changes

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

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.