M.E. Allison & CO. Inc. Decreases Stake in Honeywell International Inc. $HON

M.E. Allison & CO. Inc. reduced its stake in Honeywell International Inc. (NASDAQ:HON) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,644 shares of the conglomerate’s stock after selling 51 shares during the period. M.E. Allison & CO. Inc.’s holdings in Honeywell International were worth $383,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Honeywell International by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate’s stock valued at $13,172,852,000 after buying an additional 447,744 shares during the period. Wellington Management Group LLP increased its stake in shares of Honeywell International by 8.9% during the first quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock valued at $3,335,476,000 after buying an additional 1,293,137 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Honeywell International by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate’s stock valued at $1,278,563,000 after buying an additional 505,083 shares during the period. Invesco Ltd. increased its stake in shares of Honeywell International by 5.4% during the first quarter. Invesco Ltd. now owns 5,568,610 shares of the conglomerate’s stock valued at $1,179,153,000 after buying an additional 283,193 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Honeywell International during the first quarter valued at approximately $1,150,929,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Lucian Boldea sold 42,149 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total value of $9,339,375.42. Following the sale, the chief executive officer owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HON. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Honeywell International in a research note on Wednesday, October 8th. TD Cowen lowered their price target on Honeywell International from $260.00 to $250.00 in a report on Tuesday, October 7th. Royal Bank Of Canada lowered their price target on Honeywell International from $254.00 to $253.00 and set a “sector perform” rating on the stock in a report on Friday, July 25th. Wells Fargo & Company reduced their price objective on Honeywell International from $230.00 to $220.00 and set an “equal weight” rating for the company in a research report on Monday, October 6th. Finally, Morgan Stanley upped their price target on Honeywell International from $225.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Honeywell International has an average rating of “Moderate Buy” and a consensus target price of $251.80.

Honeywell International Stock Performance

NASDAQ:HON opened at $200.91 on Monday. The stock has a market capitalization of $127.56 billion, a P/E ratio of 22.86, a P/E/G ratio of 2.25 and a beta of 1.06. The stock has a 50-day moving average price of $214.11 and a 200 day moving average price of $217.25. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77.

Honeywell International (NASDAQ:HON) last released its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. The business had revenue of $8.95 billion during the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. Equities research analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 annualized dividend and a dividend yield of 2.4%. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s dividend payout ratio is presently 51.42%.

Honeywell International Profile

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company’s Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.