RNC Capital Management LLC Sells 10,324 Shares of Honeywell International Inc. $HON

RNC Capital Management LLC reduced its position in shares of Honeywell International Inc. (NASDAQ:HON) by 37.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,144 shares of the conglomerate’s stock after selling 10,324 shares during the quarter. RNC Capital Management LLC’s holdings in Honeywell International were worth $3,993,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Chung Wu Investment Group LLC purchased a new stake in shares of Honeywell International in the 2nd quarter worth about $26,000. Pandora Wealth Inc. bought a new stake in Honeywell International during the 1st quarter valued at about $33,000. RMG Wealth Management LLC bought a new stake in Honeywell International during the 2nd quarter valued at about $33,000. Activest Wealth Management increased its stake in Honeywell International by 425.9% during the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Finally, 1248 Management LLC bought a new stake in Honeywell International during the 1st quarter valued at about $38,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the sale, the chief executive officer owned 10,334 shares in the company, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. TD Cowen reduced their price objective on shares of Honeywell International from $260.00 to $250.00 in a research note on Tuesday, October 7th. Jefferies Financial Group reduced their price objective on shares of Honeywell International from $240.00 to $230.00 and set a “hold” rating for the company in a research note on Tuesday, October 7th. Morgan Stanley raised their price target on shares of Honeywell International from $225.00 to $245.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Honeywell International in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Honeywell International from $268.00 to $271.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $251.67.

Honeywell International Stock Performance

HON opened at $206.61 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. The company has a market cap of $131.18 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.59 and a beta of 1.06. The company’s 50 day moving average is $212.00 and its 200 day moving average is $216.96. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77.

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

Honeywell International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be issued a $1.19 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.3%. Honeywell International’s payout ratio is 51.42%.

Honeywell International Company 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.