Marshall Wace LLP has significantly increased its investment in Honeywell International Inc. (NASDAQ: HON) by an impressive 88.1% during the second quarter of 2023. According to Holdings Channel, the investment firm now holds 802,060 shares of Honeywell, following the acquisition of an additional 375,757 shares in this period. The total value of Marshall Wace’s holdings in Honeywell is approximately $186,784,000.
Other institutional investors have also adjusted their positions in Honeywell recently. Brighton Jones LLC raised its stake by 9.1% in the fourth quarter, resulting in ownership of 19,047 shares, valued at $4,302,000. AXS Investments LLC increased its holdings by 4.2% in the first quarter, bringing its total to 2,333 shares worth $494,000. WealthShield Partners LLC entered the market with a new position valued at approximately $212,000 during the same quarter.
Additionally, Charles Schwab Investment Management Inc. expanded its stake by 1.2%, now owning 3,948,557 shares valued at $836,107,000. Chicago Partners Investment Group LLC also increased its shares by 26.6%, resulting in ownership of 3,779 shares, valued at $811,000. Notably, institutional investors and hedge funds now control approximately 75.91% of Honeywell’s stock.
Stock Performance and Dividend Increase
As of the latest trading session, Honeywell International’s stock opened at $192.23, reflecting a 0.6% decline. The company boasts a market capitalization of $122.04 billion, a price-to-earnings (P/E) ratio of 20.26, and a beta of 0.96. Recent figures indicate a debt-to-equity ratio of 1.70 and liquidity ratios, including a current ratio of 1.36 and a quick ratio of 1.04. Over the past year, Honeywell’s stock has fluctuated between a low of $169.21 and a high of $228.04.
In addition to changes in investor positions, Honeywell has announced an increase in its quarterly dividend. Shareholders of record on November 14, 2023 will receive a dividend of $1.19 per share, payable on December 5, 2023. This marks an increase from the previous dividend of $1.13 per share, leading to an annualized dividend of $4.76 and a yield of 2.5%. The current payout ratio stands at 50.16%.
Market Reactions and Analyst Ratings
Several equity analysts have recently adjusted their price targets for Honeywell shares. Notably, Argus reduced its price target from $250.00 to $225.00. Rothschild & Co Redburn also lowered its objective from $240.00 to $222.00, maintaining a “neutral” rating. Meanwhile, Barclays adjusted its target price slightly downwards from $270.00 to $269.00, retaining an “overweight” rating.
Conversely, BNP Paribas upgraded Honeywell to a “hold” rating, while JPMorgan Chase & Co. lifted its price target from $212.00 to $218.00, also giving a “neutral” rating. Overall, one research analyst has issued a “Strong Buy” rating for Honeywell, with eight analysts recommending a Buy, nine suggesting Hold, and one advising a Sell. According to MarketBeat, Honeywell currently holds an average rating of “Hold” with a consensus price target of $236.71.
Honeywell International operates in various sectors, including aerospace technologies, building automation, energy and sustainable solutions, and industrial automation both in the United States and globally. The company’s diverse portfolio includes propulsion engines, integrated avionics, environmental control systems, and maintenance services, reflecting its broad impact across multiple industries.
