CalSTRS Makes $28 Billion Bet on Honeywell International Inc.
California's State Teachers Retirement System (CalSTRS) made headlines this week by announcing a significant investment in Honeywell International Inc. (NASDAQ:HON). According to its latest Form 13F filing with the Securities and Exchange Commission, CalSTRS purchased approximately 110 million shares of HON stock during the second quarter, valued at $28.21 billion.
This new position gives CalSTRS ownership of roughly 34.77% of Honeywell International's outstanding shares. In contrast to other institutional investors who have also been increasing their stakes in HON, Caitlin John LLC boosted its position by 138.9% during the fourth quarter, while Hilton Head Capital Partners LLC and University of Texas Texas AM Investment Management Co. each purchased new positions worth around $28,000.
The conglomerate's stock price opened at $209.61 on Tuesday, with a current ratio of 1.21 and a debt-to-equity ratio of 1.39. Its market cap stands at $66.43 billion, with a P/E ratio of 8.10 and a beta of 0.87.