McLean Asset Management Corp Cuts Holdings in Honeywell International Inc. (NASDAQ:HON)

McLean Asset Management Corp decreased its position in shares of Honeywell International Inc. (NASDAQ:HON) by 49.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,754 shares of the conglomerate’s stock after selling 1,721 shares during the period. McLean Asset Management Corp’s holdings in Honeywell International were worth $371,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Capital World Investors purchased a new position in Honeywell International in the fourth quarter worth about $1,594,216,000. Raymond James Financial Inc. purchased a new position in Honeywell International in the fourth quarter worth about $435,786,000. ING Groep NV grew its position in Honeywell International by 884.0% in the fourth quarter. ING Groep NV now owns 1,752,472 shares of the conglomerate’s stock worth $395,866,000 after acquiring an additional 1,574,376 shares in the last quarter. GAMMA Investing LLC grew its position in Honeywell International by 20,894.0% in the first quarter. GAMMA Investing LLC now owns 1,326,614 shares of the conglomerate’s stock worth $2,809,110,000 after acquiring an additional 1,320,295 shares in the last quarter. Finally, Cibc World Markets Corp grew its position in Honeywell International by 411.8% in the fourth quarter. Cibc World Markets Corp now owns 1,265,358 shares of the conglomerate’s stock worth $285,832,000 after acquiring an additional 1,018,099 shares in the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Analysts Set New Price Targets

HON has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded Honeywell International from a “hold” rating to a “buy” rating and lifted their price target for the stock from $236.00 to $260.00 in a research report on Friday, February 7th. Royal Bank of Canada raised their price objective on shares of Honeywell International from $211.00 to $226.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Honeywell International from $182.00 to $217.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Citigroup decreased their price objective on shares of Honeywell International from $253.00 to $229.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Wall Street Zen raised shares of Honeywell International from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Honeywell International currently has an average rating of “Moderate Buy” and an average price target of $245.57.

Honeywell International Stock Performance

Honeywell International stock opened at $225.52 on Tuesday. The company has a 50 day moving average price of $209.24 and a 200-day moving average price of $216.08. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.01 and a current ratio of 1.31. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77. The company has a market capitalization of $144.94 billion, a PE ratio of 25.89, a P/E/G ratio of 2.51 and a beta of 1.07.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Tuesday, April 29th. The conglomerate reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.30. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter in the previous year, the firm posted $2.25 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, May 16th. Honeywell International’s dividend payout ratio (DPR) is 51.95%.

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.