Pinnacle Associates Ltd. Reduces Holdings in Honeywell International Inc. $HON

Pinnacle Associates Ltd. lowered its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,952 shares of the conglomerate’s stock after selling 4,800 shares during the period. Pinnacle Associates Ltd.’s holdings in Honeywell International were worth $28,167,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Chung Wu Investment Group LLC purchased a new position in shares of Honeywell International in the 2nd quarter valued at about $26,000. Pandora Wealth Inc. purchased a new position in Honeywell International in the 1st quarter valued at approximately $33,000. RMG Wealth Management LLC purchased a new position in Honeywell International during the second quarter worth $33,000. Activest Wealth Management grew its position in shares of Honeywell International by 425.9% in the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after purchasing an additional 115 shares during the period. Finally, 1248 Management LLC purchased a new stake in Honeywell International during the first quarter valued at about $38,000. Institutional investors and hedge funds own 75.91% of the company’s stock.

Analysts Set New Price Targets

HON has been the subject of several analyst reports. Royal Bank Of Canada upgraded Honeywell International from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $235.00 to $253.00 in a research report on Monday. TD Cowen dropped their target price on Honeywell International from $260.00 to $250.00 in a research report on Tuesday, October 7th. Wells Fargo & Company upped their price objective on shares of Honeywell International from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Robert W. Baird decreased their price target on Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Finally, Jefferies Financial Group decreased their price target on shares of Honeywell International from $240.00 to $230.00 and set a “hold” rating for the company in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Honeywell International presently has an average rating of “Moderate Buy” and a consensus price target of $250.25.

Insider Transactions at Honeywell International

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 10,334 shares of the company’s stock, valued at $2,289,807.72. The trade was a 80.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Honeywell International Price Performance

Shares of HON stock opened at $200.11 on Friday. The firm’s 50 day moving average price is $211.54 and its two-hundred day moving average price is $218.02. The stock has a market cap of $127.05 billion, a PE ratio of 21.09, a PEG ratio of 2.73 and a beta of 1.06. Honeywell International Inc. has a 52-week low of $179.36 and a 52-week high of $242.77. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business had revenue of $8.95 billion for the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. As a group, analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 2.4%. 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. Honeywell International’s payout ratio is presently 47.63%.

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.