Costello Asset Management Acquires Stake in Honeywell International

Costello Asset Management INC has made a significant investment in Honeywell International Inc. (NASDAQ:HON), as disclosed in its latest Form 13F filed with the SEC. The firm acquired 13,690 shares of Honeywell's stock, which amounts to an investment valued at approximately $3,092,000. This purchase constitutes roughly 2.0% of Costello Asset Management's total portfolio, ranking it as the 18th largest holding in their investment strategy.

Institutional Investors Adjust Their Holdings

In addition to Costello's acquisition, other institutional investors and hedge funds have also adjusted their stakes in Honeywell International. For instance, Baldwin Wealth Partners LLC MA increased its holdings in the company by 4.0% during the fourth quarter, bringing their total to 67,303 shares valued at around $15,203,000 after acquiring an additional 2,611 shares. Moreover, RIA Advisory Group LLC entered the ownership of Honeywell shares in the third quarter with a stake valued at approximately $6,124,000. Copley Financial Group Inc. also joined in by purchasing a new position worth about $454,000 in the same quarter.

Furthermore, Toth Financial Advisory Corp raised its investment in Honeywell by 11.2% by acquiring an additional 1,859 shares, now holding 18,395 shares valued at $4,155,000. On another note, Rockefeller Capital Management L.P. expanded its position by 2.0% in the third quarter, resulting in ownership of 639,341 shares worth around $132,155,000. Overall, institutional investors own about 75.91% of the company's stock.

Analysts Provide Updated Ratings

What’s more, various research analysts have recently provided updates regarding Honeywell International shares. Barclays increased its price target for the stock from $255.00 to $260.00, assigning it an "overweight" rating in a recent report. Similarly, The Goldman Sachs Group raised its price objective from $227.00 to $256.00, also giving it a "buy" rating. Citigroup made a slight adjustment to their price target, lowering it from $268.00 to $266.00 while maintaining a "buy" rating.

Wells Fargo & Company adjusted its price objective downward from $254.00 to $240.00, indicating an "equal weight" rating on the shares. Lastly, Jefferies Financial Group increased its target price from $220.00 to $260.00 while maintaining a "hold" rating. Overall, among analysts, eleven have placed a hold rating on the stock, six have recommended it as a buy, and one has given a strong buy rating, leading to a consensus rating of "Hold" with a target price of $248.29 according to MarketBeat.com.

Current Stock Performance Overview

As of Friday, NASDAQ HON opened at $223.72. The company features a debt-to-equity ratio of 1.44, while its current ratio stands at 1.44 and a quick ratio at 1.12. Over the past year, Honeywell International's stock has exhibited a low of $189.66 and a high of $242.77, leading to a market capitalization of $145.47 billion, a price-to-earnings (PE) ratio of 25.83, and a price-to-earnings-growth (PEG) ratio of 2.54. Its stock has a 50-day simple moving average of $225.91 and a 200-day simple moving average of $215.14.

Understanding Honeywell International

Honeywell International Inc. operates within the realm of aerospace technologies, building automation, energy and sustainable solutions, and industrial automation, providing services both domestically and internationally. Their Aerospace segment specializes in a wide range of products including propulsion engines, integrated avionics, environmental control systems, and commercial aircraft components, among others.

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