Marshall Wace LLP significantly increased its holdings in Honeywell International Inc. (NASDAQ: HON) by **88.1%** during the second quarter of 2023. According to Holdings Channel, the investment firm acquired an additional **375,757 shares**, bringing its total ownership to **802,060 shares** valued at approximately **$186.8 million**.
The surge in ownership reflects broader trends among institutional investors in the company. For instance, Brighton Jones LLC raised its stake in Honeywell by **9.1%** in the fourth quarter, now holding **19,047 shares** valued at **$4.3 million**. Similarly, AXS Investments LLC increased its position by **4.2%**, acquiring **2,333 shares** worth around **$494,000**. WealthShield Partners LLC also entered the market, purchasing a new position valued at about **$212,000**.
Chicago Partners Investment Group LLC notably boosted its stake by **26.6%**, now owning **3,779 shares** valued at **$811,000**. Overall, institutional investors and hedge funds collectively own **75.91%** of Honeywell’s stock.
Market Performance and Dividend Announcement
As of the latest trading session, Honeywell’s stock opened at **$192.23**, reflecting a market capitalization of **$122.04 billion**. The stock’s **price-to-earnings (P/E) ratio** stands at **20.26**, with a **P/E/G ratio** of **2.63** and a **beta** of **0.96**. The company reported a **debt-to-equity ratio** of **1.70**, alongside a **current ratio** of **1.36** and a **quick ratio** of **1.04**. Over the past year, the stock has fluctuated between a low of **$169.21** and a high of **$228.04**.
In a recent announcement, Honeywell declared a quarterly dividend of **$1.19 per share**, set to be paid on **December 5, 2023**. This dividend increase, up from **$1.13**, represents an annualized payout of **$4.76** and a yield of **2.5%**. The ex-dividend date is also **November 14, 2023**, and the company’s current payout ratio is **50.16%**.
Analyst Ratings and Future Outlook
Several analysts have weighed in on Honeywell’s stock performance, resulting in varied target price adjustments. Argus recently lowered its price target from **$250.00** to **$225.00**. Rothschild & Co. Redburn also revised its target down to **$222.00**, maintaining a “neutral” rating. In contrast, Barclays adjusted its target price slightly from **$270.00** to **$269.00**, keeping an “overweight” rating on the stock.
Furthermore, JPMorgan Chase & Co. raised its price objective from **$212.00** to **$218.00**, while one analyst has rated the stock as a **Strong Buy**, eight have given it a **Buy** rating, and nine have issued a **Hold** rating. Currently, Honeywell holds an average rating of **“Hold”** with a consensus price target of **$236.71**, according to data from MarketBeat.
Honeywell International Inc. operates across various sectors, including aerospace technologies, building automation, and industrial automation. Its diverse portfolio positions the company as a key player in the global market, with operations spanning the United States, Europe, and beyond.
