Newport Wealth Strategies Inc. Invests $316,000 in Honeywell (HON) Stock

Newport Wealth Strategies Inc. acquired a new stake in Honeywell (NYSE:HON) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,976 shares of the conglomerate’s stock, valued at approximately $316,000.

Other large investors have also recently bought and sold shares of the company. Welch Group LLC purchased a new stake in shares of Honeywell during the 4th quarter worth approximately $100,000. Taylor Hoffman Wealth Management purchased a new stake in shares of Honeywell during the 4th quarter worth approximately $113,000. Mascoma Wealth Management LLC increased its stake in shares of Honeywell by 113.2% during the 3rd quarter. Mascoma Wealth Management LLC now owns 806 shares of the conglomerate’s stock worth $114,000 after purchasing an additional 428 shares during the last quarter. Invictus RG purchased a new stake in shares of Honeywell during the 3rd quarter worth approximately $117,000. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of Honeywell during the 4th quarter worth approximately $138,000. Hedge funds and other institutional investors own 75.30% of the company’s stock.

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HON opened at $150.57 on Monday. The company has a market capitalization of $113,228.95, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. Honeywell has a 12 month low of $126.10 and a 12 month high of $165.13. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.72.

Honeywell (NYSE:HON) last released its quarterly earnings data on Friday, April 20th. The conglomerate reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.06. The company had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $10.03 billion. Honeywell had a net margin of 4.08% and a return on equity of 27.27%. Honeywell’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $1.71 EPS. equities analysts expect that Honeywell will post 7.97 earnings per share for the current year.

In related news, Director Jaime Chico /Fa Pardo sold 2,868 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $156.36, for a total value of $448,440.48. Following the completion of the transaction, the director now directly owns 41,092 shares of the company’s stock, valued at approximately $6,425,145.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Linnet F. Deily sold 2,886 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $147.71, for a total transaction of $426,291.06. Following the completion of the transaction, the director now directly owns 9,105 shares of the company’s stock, valued at $1,344,899.55. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by company insiders.

HON has been the subject of several research analyst reports. Royal Bank of Canada lowered shares of Honeywell from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $163.00 to $158.00 in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. Cowen restated a “buy” rating and set a $168.00 price target on shares of Honeywell in a research note on Monday, January 22nd. UBS initiated coverage on shares of Honeywell in a research note on Monday, January 22nd. They set a “buy” rating for the company. Bank of America raised their price target on shares of Honeywell from $117.12 to $168.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Robert W. Baird restated a “buy” rating and set a $187.00 price target on shares of Honeywell in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Honeywell has an average rating of “Buy” and an average target price of $166.07.

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About Honeywell

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.

Institutional Ownership by Quarter for Honeywell (NYSE:HON)

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