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Honeywell (HON) Rewards Investors With 5.1% Dividend Hike
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In a shareholder-friendly move, Honeywell International Inc. (HON - Free Report) has announced a hike in its dividend payout. HON raised its quarterly dividend 5.1% to $1.03 per share. The new dividend will be effective the fourth quarter of 2022 and paid out on Dec 2 to its shareholders of record as of Nov 11.
The move underscores HON’s sound financial health as it utilizes free cash flow to enhance its shareholders’ returns. This marks Honeywell’s 13th consecutive year of dividend increase.
Following the hike, the annual dividend now stands at $4.12 per share, higher than the previous rate of $3.92. The dividend yield, based on the new payout and its Oct 5 closing price, is 2.3%.
Sound Capital-Allocation Strategies
Strong cash flows allow Honeywell to effectively deploy capital for making acquisitions, repurchasing shares and paying out dividends. In the first six months of 2022, Honeywell rewarded its shareholders with $2.4 billion through share repurchases and $1.4 billion via dividend payments. HON expects to buy back shares worth $4 billion in 2022.
AIT’s earnings estimates have increased 5.1% for fiscal 2023 (ending June 2023) in the past 60 days. Its shares have risen 19.3% in the past three months.
Carlisle Companies (CSL - Free Report) has a Zacks Rank #2 (Buy), currently. CSL pulled off a trailing four-quarter earnings surprise of 28%, on average.
In the past 60 days, Carlisle’s earnings estimates have increased 0.1% for 2022. The stock has rallied 20.1% in the past three months.
Eaton Corporation plc (ETN - Free Report) presently has a Zacks Rank of 2 (Buy). ETN’s earnings surprise in the last four quarters was 1.4%, on average.
In the past 60 days, Eaton’s earnings estimates have increased 0.1% for 2022. The stock has rallied 12.9% in the past three months.
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Honeywell (HON) Rewards Investors With 5.1% Dividend Hike
In a shareholder-friendly move, Honeywell International Inc. (HON - Free Report) has announced a hike in its dividend payout. HON raised its quarterly dividend 5.1% to $1.03 per share. The new dividend will be effective the fourth quarter of 2022 and paid out on Dec 2 to its shareholders of record as of Nov 11.
The move underscores HON’s sound financial health as it utilizes free cash flow to enhance its shareholders’ returns. This marks Honeywell’s 13th consecutive year of dividend increase.
Following the hike, the annual dividend now stands at $4.12 per share, higher than the previous rate of $3.92. The dividend yield, based on the new payout and its Oct 5 closing price, is 2.3%.
Sound Capital-Allocation Strategies
Strong cash flows allow Honeywell to effectively deploy capital for making acquisitions, repurchasing shares and paying out dividends. In the first six months of 2022, Honeywell rewarded its shareholders with $2.4 billion through share repurchases and $1.4 billion via dividend payments. HON expects to buy back shares worth $4 billion in 2022.
Honeywell International Inc. Price
Honeywell International Inc. price | Honeywell International Inc. Quote
Zacks Rank and Stocks to Consider
Honeywell currently carries a Zacks Rank #3 (Hold). Some better-ranked companies are discussed below:
Applied Industrial Technologies, Inc. (AIT - Free Report) presently has a Zacks Rank #1 (Strong Buy) and a trailing four-quarter earnings surprise of 22.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
AIT’s earnings estimates have increased 5.1% for fiscal 2023 (ending June 2023) in the past 60 days. Its shares have risen 19.3% in the past three months.
Carlisle Companies (CSL - Free Report) has a Zacks Rank #2 (Buy), currently. CSL pulled off a trailing four-quarter earnings surprise of 28%, on average.
In the past 60 days, Carlisle’s earnings estimates have increased 0.1% for 2022. The stock has rallied 20.1% in the past three months.
Eaton Corporation plc (ETN - Free Report) presently has a Zacks Rank of 2 (Buy). ETN’s earnings surprise in the last four quarters was 1.4%, on average.
In the past 60 days, Eaton’s earnings estimates have increased 0.1% for 2022. The stock has rallied 12.9% in the past three months.