Honeywell International (NASDAQ:HON) Reaches New 12-Month High - Here's What Happened

Honeywell International Inc. (NASDAQ:HON - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $221.37 and last traded at $221.23, with a volume of 1275597 shares changing hands. The stock had previously closed at $219.55.

Analysts Set New Price Targets

Several research firms have commented on HON. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $214.00 price objective on shares of Honeywell International in a report on Thursday, September 26th. Morgan Stanley began coverage on shares of Honeywell International in a report on Friday, September 6th. They issued an "equal weight" rating and a $210.00 price objective for the company. StockNews.com cut shares of Honeywell International from a "buy" rating to a "hold" rating in a report on Friday, August 30th. JPMorgan Chase & Co. lowered Honeywell International from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $225.00 to $235.00 in a report on Thursday, October 10th. Finally, Wells Fargo & Company dropped their price objective on Honeywell International from $215.00 to $207.00 and set an "equal weight" rating on the stock in a report on Monday, October 7th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $223.56.

Honeywell International Trading Up 0.8 %

The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.91 and a current ratio of 1.21. The stock has a market cap of $144.11 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.45 and a beta of 1.03. The stock has a 50-day moving average price of $205.05 and a 200-day moving average price of $204.62.

Honeywell International (NASDAQ:HON - Get Free Report) last announced its earnings results on Thursday, July 25th. The conglomerate reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.07. The business had revenue of $9.58 billion during the quarter, compared to analyst estimates of $9.41 billion. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. Honeywell International's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.23 earnings per share. On average, equities research analysts expect that Honeywell International Inc. will post 10.1 EPS for the current year.

Honeywell International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a $1.13 dividend. This is a boost from Honeywell International's previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.04%. Honeywell International's dividend payout ratio is 52.38%.

Hedge Funds Weigh In On Honeywell International

A number of large investors have recently added to or reduced their stakes in the business. Capital Wealth Planning LLC bought a new position in shares of Honeywell International in the second quarter worth approximately $392,478,000. Price T Rowe Associates Inc. MD grew its holdings in Honeywell International by 22.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,587,718 shares of the conglomerate's stock worth $1,967,880,000 after acquiring an additional 1,746,759 shares during the last quarter. Natixis increased its position in shares of Honeywell International by 184.8% in the first quarter. Natixis now owns 838,716 shares of the conglomerate's stock valued at $172,146,000 after acquiring an additional 544,175 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Honeywell International by 12.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,950,562 shares of the conglomerate's stock valued at $630,086,000 after acquiring an additional 325,272 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Honeywell International by 3.9% during the second quarter. Ameriprise Financial Inc. now owns 8,365,840 shares of the conglomerate's stock worth $1,786,449,000 after purchasing an additional 310,807 shares during the period. Hedge funds and other institutional investors own 75.91% of the company's stock.

About Honeywell International

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.

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