Honeywell International Inc. $HON Stock Position Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp cut its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 4.4% during the second quarter, Holdings Channel reports. The firm owned 1,117,141 shares of the conglomerate’s stock after selling 50,822 shares during the quarter. Honeywell International makes up approximately 1.1% of King Luther Capital Management Corp’s portfolio, making the stock its 23rd largest holding. King Luther Capital Management Corp’s holdings in Honeywell International were worth $260,160,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of HON. Chung Wu Investment Group LLC purchased a new stake in shares of Honeywell International in the 2nd quarter valued at approximately $26,000. Pandora Wealth Inc. acquired a new stake in Honeywell International during the 1st quarter valued at $33,000. RMG Wealth Management LLC purchased a new stake in shares of Honeywell International in the second quarter valued at $33,000. Activest Wealth Management boosted 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 worth $33,000 after buying an additional 115 shares during the period. Finally, 1248 Management LLC purchased a new position in shares of Honeywell International during the first quarter valued at $38,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Honeywell International Stock Performance

HON opened at $194.07 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. The stock’s 50 day moving average price is $208.63 and its two-hundred day moving average price is $218.18. The firm has a market capitalization of $123.21 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. 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 for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The company had revenue of $8.95 billion during 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. On average, equities analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The business also recently disclosed 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. This is an increase 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 2.5%. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International’s dividend payout ratio (DPR) is currently 50.16%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HON shares. TD Cowen reduced their price target on shares of Honeywell International from $260.00 to $250.00 in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Honeywell International in a research report on Wednesday, October 8th. Citigroup boosted their price target on shares of Honeywell International from $251.56 to $267.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Morgan Stanley cut their price objective on Honeywell International from $245.00 to $235.00 and set an “equal weight” rating for the company in a report on Tuesday, October 28th. Finally, Jefferies Financial Group reduced their price objective on Honeywell International from $230.00 to $220.00 in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $249.63.

Insider Buying and Selling at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the 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 in the company, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.