Shorepath Capital Management LLC Decreases Stock Holdings in Honeywell International Inc. $HON

Shorepath Capital Management LLC lowered its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 44.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,227 shares of the conglomerate’s stock after selling 14,733 shares during the quarter. Honeywell International makes up approximately 3.5% of Shorepath Capital Management LLC’s holdings, making the stock its 10th biggest holding. Shorepath Capital Management LLC’s holdings in Honeywell International were worth $4,245,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its stake in shares of Honeywell International by 1.9% in the 2nd quarter. Assetmark Inc. now owns 22,921 shares of the conglomerate’s stock valued at $5,338,000 after purchasing an additional 429 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of Honeywell International by 3.1% in the 2nd quarter. HBK Sorce Advisory LLC now owns 8,015 shares of the conglomerate’s stock valued at $1,867,000 after purchasing an additional 241 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Honeywell International by 11.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,339 shares of the conglomerate’s stock valued at $312,000 after purchasing an additional 136 shares during the last quarter. World Investment Advisors boosted its stake in shares of Honeywell International by 8.2% in the 2nd quarter. World Investment Advisors now owns 24,457 shares of the conglomerate’s stock valued at $5,695,000 after purchasing an additional 1,857 shares during the last quarter. Finally, Robocap Asset Management Ltd boosted its stake in shares of Honeywell International by 20.6% in the 2nd quarter. Robocap Asset Management Ltd now owns 24,147 shares of the conglomerate’s stock valued at $5,623,000 after purchasing an additional 4,120 shares during the last quarter. Institutional investors own 75.91% of the company’s stock.

Honeywell International Stock Performance

Shares of NASDAQ:HON opened at $212.89 on Thursday. The company has a market capitalization of $135.16 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 2.75 and a beta of 1.06. The firm’s 50 day simple moving average is $211.89 and its 200 day simple moving average is $218.15. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77.

Honeywell International (NASDAQ:HON) last announced 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 for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. 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, sell-side 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 announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a dividend of $1.19 per share. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date is Friday, November 14th. This represents a $4.76 annualized dividend and a yield of 2.2%. Honeywell International’s dividend payout ratio is 50.16%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HON shares. Jefferies Financial Group reduced their target price on shares of Honeywell International from $240.00 to $230.00 and set a “hold” rating on the stock in a research note on Tuesday, October 7th. TD Cowen reduced their target price on shares of Honeywell International from $260.00 to $250.00 in a research note on Tuesday, October 7th. Wells Fargo & Company raised their target price on shares of Honeywell International from $220.00 to $230.00 and gave the company an “equal weight” rating in a research note on Friday, October 24th. Rothschild & Co Redburn cut their price target on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Morgan Stanley cut their price target on shares of Honeywell International from $245.00 to $235.00 and set an “equal weight” rating on the stock in a research report on Tuesday. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.25.

Insider Buying and Selling

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 directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

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.