West Tower Group LLC Takes Position in Honeywell International Inc. (NASDAQ:HON)

West Tower Group LLC purchased a new stake in shares of Honeywell International Inc. (NASDAQ:HON) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 1,300 shares of the conglomerate’s stock, valued at approximately $269,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in Honeywell International in the third quarter valued at about $29,000. Planning Capital Management Corp lifted its holdings in Honeywell International by 96.4% in the third quarter. Planning Capital Management Corp now owns 165 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 81 shares during the period. Financial Connections Group Inc. bought a new position in Honeywell International in the second quarter valued at about $38,000. Pathway Financial Advisers LLC bought a new position in Honeywell International in the first quarter valued at about $39,000. Finally, Western Pacific Wealth Management LP bought a new position in Honeywell International in the third quarter valued at about $41,000. 75.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group reissued a “buy” rating and issued a $298.00 target price (up previously from $215.00) on shares of Honeywell International in a report on Wednesday, November 13th. StockNews.com raised Honeywell International from a “hold” rating to a “buy” rating in a research note on Sunday, November 3rd. Morgan Stanley began coverage on Honeywell International in a research note on Friday, September 6th. They issued an “equal weight” rating and a $210.00 price objective on the stock. Barclays raised their price objective on Honeywell International from $229.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada raised their price objective on Honeywell International from $213.00 to $253.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Honeywell International has a consensus rating of “Hold” and an average price target of $241.45.

Honeywell International Stock Performance

NASDAQ:HON opened at $230.60 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 1.44. Honeywell International Inc. has a 12-month low of $189.66 and a 12-month high of $242.77. The stock has a 50-day moving average price of $214.38 and a 200 day moving average price of $209.27. The stock has a market capitalization of $149.95 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.72 and a beta of 1.03.

Honeywell International Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.52 annualized dividend and a dividend yield of 1.96%. This is a boost from Honeywell International’s previous quarterly dividend of $1.08. Honeywell International’s dividend payout ratio (DPR) is currently 52.19%.

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.