Sat Oct 05 03:36:48 UTC 2024: ## Bright Rock Capital Management Boosts Honeywell International Stake by 110%

**New York, NY** – Bright Rock Capital Management LLC, a prominent investment firm, increased its stake in industrial conglomerate Honeywell International Inc. (HON) by a significant 110.0% during the third quarter, according to a recent filing with the Securities and Exchange Commission. The fund now owns 52,500 shares of HON, making it the 13th largest holding in their portfolio, representing 2.2% of their total investments.

This move follows a trend of increased interest in HON by institutional investors. Several other hedge funds also adjusted their positions in the company during recent quarters, including EP Wealth Advisors LLC, Connectus Wealth LLC, Sanibel Captiva Trust Company Inc., Trilogy Capital Inc., and Jupiter Asset Management Ltd. Overall, hedge funds and institutional investors currently own 75.91% of HON’s outstanding shares.

Honeywell International has been in the spotlight recently, with analysts offering mixed opinions on the stock. While Royal Bank of Canada maintained a “sector perform” rating and a $214.00 target price, Wells Fargo & Company lowered its price objective to $215.00 and issued an “equal weight” rating. UBS Group upgraded HON from “sell” to “neutral” and increased its target price to $215.00, while Morgan Stanley initiated coverage with an “equal weight” rating and a $210.00 target price. StockNews.com downgraded HON from “buy” to “hold”. Overall, analysts have assigned an average rating of “Hold” with a target price of $223.13.

The company recently announced a quarterly dividend of $1.13, an increase from the previous $1.08, payable on December 6th. This represents an annualized dividend of $4.52 and a yield of 2.23%.

HON opened at $202.88 on Friday, with a market cap of $132.11 billion. The company’s strong financial performance and dividend growth have contributed to its recent success. Investors are likely to continue watching HON closely to see how it navigates the current economic landscape.

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