Honeywell International Inc. (HON)
Honeywell (HON) Acquires Carrier's Global Access Solutions Unit
Honeywell's (HON) acquisition of Global Access Solutions business is likely to enable it to expand its security products portfolio and boost its building automation segment.
Honeywell International Inc. (HON) Jefferies 2nd Annual eVTOL / AAM Summit Conference (Transcript)
Honeywell International Inc. (NASDAQ:HON ) Jefferies 2nd Annual eVTOL / AAM Summit Conference May 30, 2024 1:50 PM ET Company Participants Dave Shilliday - VP and GM, UAM/UAS, Honeywell Aerospace Technologies Conference Call Participants Sheila Kahyaoglu - Jefferies Sheila Kahyaoglu Good afternoon, everyone. My name is Sheila Kahyaoglu the Jefferies Aerospace Defense and Airlines Equity Research team.
Honeywell: Growth Re-Acceleration Can Drive Stock Higher
Honeywell is well-positioned for growth in the near and long term, with a healthy backlog and strong demand in the Aerospace business. Improving supply chain conditions and a recovery in short-cycle business should also aid growth. Honeywell's margin expansion prospects are positive, with operating leverage and productivity initiatives expected to improve margins.
Innovative Solutions and Support Stock: Huge Potential On Honeywell Growth Driver
Innovative Solutions and Support, Inc. is a systems integrator of flight navigation systems and precision flight instrumentation equipment. The company has exposure to commercial and defense platforms, as well as general aviation and military platforms. The acquisition of product lines from Honeywell Aerospace has bolstered future growth, but integration challenges have led to margin erosion.
Panagora Asset Management Inc. Has $2.64 Million Stock Position in Honeywell International Inc. (NASDAQ:HON)
Panagora Asset Management Inc. cut its stake in shares of Honeywell International Inc. (NASDAQ:HON – Free Report) by 91.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,582 shares of the conglomerate’s stock after selling 135,612 shares during the period. Panagora Asset Management Inc.’s holdings in Honeywell International were worth $2,639,000 as of its most recent SEC filing. Other large investors also recently modified their holdings of the company. Barclays PLC raised its holdings in Honeywell International by 57.3% during the 3rd quarter. Barclays PLC now owns 3,190,755 shares of the conglomerate’s stock worth $589,462,000 after purchasing an additional 1,162,518 shares during the last quarter. International Assets Investment Management LLC raised its stake in Honeywell International by 6,557.2% during the 4th quarter. International Assets Investment Management LLC now owns 940,661 shares of the conglomerate’s stock worth $197,266,000 after buying an additional 926,531 shares during the period. Van ECK Associates Corp raised its stake in Honeywell International by 853.0% during the 3rd quarter. Van ECK Associates Corp now owns 887,629 shares of the conglomerate’s stock worth $163,980,000 after buying an additional 794,489 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Honeywell International by 51.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,874,877 shares of the conglomerate’s stock worth $346,365,000 after purchasing an additional 636,104 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Honeywell International by 27.5% during the fourth quarter. California Public Employees Retirement System now owns 1,739,695 shares of the conglomerate’s stock worth $364,831,000 after acquiring an additional 375,158 shares during the period. 75.91% of the stock is currently owned by institutional investors. Insider Activity at Honeywell International In other Honeywell International news, Director Darius Adamczyk sold 28,500 shares of Honeywell International stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $203.96, for a total value of $5,812,860.00. Following the transaction, the director now directly owns 203,510 shares of the company’s stock, valued at approximately $41,507,899.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Darius Adamczyk sold 28,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $203.96, for a total transaction of $5,812,860.00. Following the transaction, the director now owns 203,510 shares in the company, valued at approximately $41,507,899.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gregory P. Lewis sold 25,209 shares of Honeywell International stock in a transaction on Monday, April 29th. The shares were sold at an average price of $193.06, for a total transaction of $4,866,849.54. Following the completion of the sale, the chief financial officer now owns 55,471 shares in the company, valued at approximately $10,709,231.26. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders. Analyst Upgrades and Downgrades HON has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $215.00 price objective (down previously from $227.00) on shares of Honeywell International in a research report on Tuesday, April 16th. Barclays increased their target price on shares of Honeywell International from $230.00 to $232.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Berenberg Bank upgraded shares of Honeywell International from a “hold” rating to a “buy” rating and boosted their price target for the company from $195.00 to $240.00 in a research report on Wednesday, March 6th. Royal Bank of Canada lowered their price objective on Honeywell International from $210.00 to $209.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Finally, StockNews.com upgraded Honeywell International from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Honeywell International presently has an average rating of “Hold” and a consensus target price of $215.71. Get Our Latest Research Report on Honeywell International Honeywell International Stock Down 0.3 % Shares of NASDAQ:HON opened at $205.97 on Monday. The firm has a market capitalization of $134.13 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 2.38 and a beta of 1.02. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.28 and a current ratio of 1.66. Honeywell International Inc. has a 52-week low of $174.88 and a 52-week high of $210.87. The firm has a fifty day moving average of $198.17 and a 200 day moving average of $198.25. Honeywell International (NASDAQ:HON – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.08. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.03 billion. Honeywell International had a return on equity of 35.88% and a net margin of 15.52%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 EPS. As a group, research analysts anticipate that Honeywell International Inc. will post 9.93 EPS for the current fiscal year. Honeywell International Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.10%. Honeywell International’s dividend payout ratio (DPR) is 50.06%. Honeywell International Company Profile (Free Report) 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.
Honeywell (HON) Rides on Business Strength Amid Headwinds
Honeywell (HON) gains from strength in its Aerospace segment, buyouts and shareholder-friendly policies. Softness in the warehouse and workflow solutions unit remains concerning.
