Phraction Management Increases Stake in Honeywell International

Phraction Management LLC has raised its holdings in Honeywell International Inc. by 6.8% during the third quarter of 2023, according to a report from HoldingsChannel. Following this acquisition, the fund now owns 61,080 shares of Honeywell, which constitutes about 3.7% of its investment portfolio, making it the tenth largest holding for the firm. As of its most recent filing with the Securities and Exchange Commission, Phraction Management’s stake in Honeywell is valued at approximately $12.86 million.

Several other notable investors have also adjusted their positions in Honeywell recently. Brighton Jones LLC increased its stake by 9.1% during the fourth quarter, acquiring an additional 1,582 shares to reach a total of 19,047 shares, worth around $4.30 million. Similarly, Banco Bilbao Vizcaya Argentaria S.A. raised its position by 4.2% in the first quarter, now holding 17,466 shares valued at $3.70 million.

EntryPoint Capital LLC made a significant increase of 48.0% to its holdings, bringing its total to 1,627 shares valued at $345,000. Capital Analysts LLC also made a slight adjustment, increasing its position by 0.7% to own 14,563 shares worth $3.08 million. In a remarkable move, Candriam S.C.A. boosted its holdings by 385.7%, now owning 44,410 shares valued at $9.40 million. Overall, institutional investors control approximately 75.91% of Honeywell’s stock.

Honeywell’s Stock Performance and Dividend Increase

As of the latest trading session, Honeywell’s shares opened at $198.08, reflecting a slight decline of 0.9%. The company’s fifty-day moving average stands at $198.50, while its two-hundred day moving average is considerably higher at $213.67. The company’s market capitalization is currently about $125.76 billion, with a price-to-earnings ratio of 20.87.

Honeywell recently announced an increase in its quarterly dividend, which was paid on December 5, 2023. Shareholders of record as of November 14 received a payment of $1.19 per share, up from the previous quarterly dividend of $1.13. This adjustment brings the annualized dividend to $4.76, reflecting a yield of 2.4%. The company’s dividend payout ratio currently sits at 50.16%.

Analysts’ Ratings and Market Outlook

Recent evaluations from equity research analysts on Honeywell’s stock have produced a mixed outlook. BNP Paribas Exane initiated coverage with a “neutral” rating and a price target of $195.00. Conversely, Evercore ISI issued an “outperform” rating with a significantly higher target price of $255.00. The Goldman Sachs Group adjusted its price target down from $245.00 to $236.00, while maintaining a “buy” rating.

JPMorgan Chase & Co. increased its price objective from $212.00 to $218.00, also rating the stock as “neutral.” Meanwhile, Robert W. Baird reduced its target from $250.00 to $220.00, again assigning a “neutral” rating. In total, nine analysts have rated Honeywell as a “buy,” nine have a “hold,” and one has issued a “sell” recommendation. According to MarketBeat, the consensus rating for Honeywell International is “hold,” with a consensus price target of $236.56.

Honeywell International Inc. operates across various sectors, including aerospace technologies, building automation, and industrial automation. The company provides a wide range of products and services, from propulsion engines and integrated avionics to energy solutions and maintenance services, serving customers around the globe.