Evanson Asset Management LLC Takes Position in Honeywell (NYSE:HON)

Evanson Asset Management LLC bought a new stake in Honeywell (NYSE:HON) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,436 shares of the conglomerate’s stock, valued at approximately $220,000.

A number of other institutional investors have also recently modified their holdings of the stock. Janus Henderson Group PLC boosted its stake in Honeywell by 4,986.7% during the 2nd quarter. Janus Henderson Group PLC now owns 4,395,092 shares of the conglomerate’s stock valued at $585,822,000 after purchasing an additional 4,308,688 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Honeywell by 38.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock valued at $1,776,394,000 after purchasing an additional 3,728,533 shares during the last quarter. APG Asset Management N.V. boosted its stake in Honeywell by 69.6% during the 4th quarter. APG Asset Management N.V. now owns 3,347,506 shares of the conglomerate’s stock valued at $427,526,000 after purchasing an additional 1,373,600 shares during the last quarter. Vanguard Group Inc. boosted its stake in Honeywell by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock valued at $6,626,247,000 after purchasing an additional 1,234,672 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Honeywell by 2.8% during the 2nd quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock valued at $6,003,117,000 after purchasing an additional 1,207,893 shares during the last quarter. 75.30% of the stock is owned by institutional investors and hedge funds.

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In related news, Director Linnet F. Deily sold 2,886 shares of the company’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 value of $426,291.06. Following the transaction, the director now owns 9,105 shares in the company, valued at $1,344,899.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jaime Chico /Fa Pardo sold 2,868 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $156.36, for a total value of $448,440.48. Following the completion of the transaction, the director now owns 41,092 shares in the company, valued at approximately $6,425,145.12. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by corporate insiders.

Shares of NYSE HON opened at $142.74 on Friday. Honeywell has a twelve month low of $122.40 and a twelve month high of $165.13. The company has a market capitalization of $108,919.96, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.99 and a beta of 0.97. The company has a current ratio of 1.38, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.

Honeywell (NYSE:HON) last announced its earnings results on Friday, January 26th. The conglomerate reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.01. Honeywell had a return on equity of 27.27% and a net margin of 4.08%. The firm had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the previous year, the business earned $1.74 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. analysts forecast that Honeywell will post 7.97 EPS for the current fiscal year.

Honeywell declared that its board has approved a stock repurchase plan on Friday, December 8th that permits the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization permits the conglomerate to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were paid a $0.745 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.98 annualized dividend and a yield of 2.09%. Honeywell’s payout ratio is 41.91%.

HON has been the subject of a number of analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $165.00 price target on shares of Honeywell in a research note on Friday, February 16th. Zacks Investment Research downgraded Honeywell from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Bank of America lifted their price target on Honeywell from $117.12 to $168.00 and gave the company a “buy” rating in a research note on Friday, January 26th. UBS initiated coverage on Honeywell in a research note on Monday, January 22nd. They set a “buy” rating for the company. Finally, Jefferies Group lifted their price target on Honeywell from $162.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Honeywell presently has an average rating of “Buy” and an average target price of $166.07.

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About Honeywell

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.

Institutional Ownership by Quarter for Honeywell (NYSE:HON)

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