Honeywell International Inc. Invests $26.41 Million in International Business Machines Corp. (NYSE:IBM) Stock

Honeywell International Inc. acquired a new stake in shares of International Business Machines Corp. (NYSE:IBM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 182,000 shares of the technology company’s stock, valued at approximately $26,405,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Herndon Capital Management LLC increased its position in shares of International Business Machines by 39.0% during the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after acquiring an additional 195 shares in the last quarter. Edge Wealth Management LLC grew its position in International Business Machines by 5.6% in the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock worth $117,000 after purchasing an additional 40 shares in the last quarter. ETF Managers Group LLC bought a new stake in International Business Machines in the 2nd quarter worth about $121,000. Peddock Capital Advisors LLC grew its position in International Business Machines by 7.3% in the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after purchasing an additional 62 shares in the last quarter. Finally, Horan Securities Inc. grew its position in shares of International Business Machines by 845.5% during the 2nd quarter. Horan Securities Inc. now owns 936 shares of the technology company’s stock valued at $144,000 after acquiring an additional 837 shares during the period. Hedge funds and other institutional investors own 57.11% of the company’s stock.

IBM has been the subject of a number of research reports. UBS Group reissued a “neutral” rating and set a $160.00 target price (up from $152.00) on shares of International Business Machines in a research report on Wednesday, October 18th. Jefferies Group reissued a “sell” rating and set a $125.00 target price on shares of International Business Machines in a research report on Thursday, September 21st. Vetr upgraded shares of International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 price target on the stock in a research note on Wednesday, December 6th. Cantor Fitzgerald restated a “hold” rating and set a $154.00 price target on shares of International Business Machines in a research note on Friday, October 13th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $175.00 target price on shares of International Business Machines in a research note on Thursday. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $159.90.

Shares of International Business Machines Corp. (NYSE:IBM) opened at $163.14 on Friday. International Business Machines Corp. has a 12-month low of $139.13 and a 12-month high of $182.79. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.41 and a quick ratio of 1.36. The company has a market cap of $151,030.00, a PE ratio of 13.62, a PEG ratio of 2.39 and a beta of 0.94.

International Business Machines (NYSE:IBM) last posted its earnings results on Tuesday, October 17th. The technology company reported $3.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.28 by $0.02. International Business Machines had a net margin of 14.43% and a return on equity of 68.68%. The firm had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.63 billion. During the same period last year, the company posted $3.29 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. research analysts predict that International Business Machines Corp. will post 13.78 earnings per share for the current year.

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International Business Machines Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

Institutional Ownership by Quarter for International Business Machines (NYSE:IBM)

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