Honeywell International Inc. (NASDAQ:HON) Shares Sold by Meyer Handelman Co.
by Tristan Rich · The Markets DailyMeyer Handelman Co. lessened its stake in Honeywell International Inc. (NASDAQ:HON – Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 410,193 shares of the conglomerate’s stock after selling 3,166 shares during the quarter. Honeywell International accounts for about 2.9% of Meyer Handelman Co.’s holdings, making the stock its 5th biggest position. Meyer Handelman Co.’s holdings in Honeywell International were worth $84,791,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. O Dell Group LLC bought a new position in Honeywell International during the fourth quarter valued at approximately $173,000. Studio Investment Management LLC lifted its stake in shares of Honeywell International by 8.3% in the 4th quarter. Studio Investment Management LLC now owns 20,049 shares of the conglomerate’s stock valued at $4,204,000 after purchasing an additional 1,529 shares during the last quarter. Aspect Partners LLC bought a new stake in Honeywell International in the fourth quarter worth $232,000. Sanibel Captiva Trust Company Inc. acquired a new position in Honeywell International during the fourth quarter worth $27,230,000. Finally, Secured Retirement Advisors LLC bought a new position in Honeywell International during the fourth quarter valued at about $1,113,000. Hedge funds and other institutional investors own 75.91% of the company’s stock.
Honeywell International Stock Performance
NASDAQ:HON opened at $215.99 on Friday. The firm’s 50-day moving average is $203.51 and its 200-day moving average is $204.22. The company has a market cap of $140.65 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 2.45 and a beta of 1.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.91 and a current ratio of 1.21. Honeywell International Inc. has a 52-week low of $174.88 and a 52-week high of $220.79.
Honeywell International (NASDAQ:HON – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.07. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The firm had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period in the previous year, the company posted $2.23 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Honeywell International Inc. will post 10.1 earnings per share for the current year.
Honeywell International Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $1.13 dividend. This is a boost from Honeywell International’s previous quarterly dividend of $1.08. This represents a $4.52 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, November 15th. Honeywell International’s dividend payout ratio (DPR) is 52.38%.
Analysts Set New Price Targets
Several analysts have recently issued reports on HON shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $214.00 price target on shares of Honeywell International in a research note on Thursday, September 26th. Morgan Stanley assumed coverage on Honeywell International in a report on Friday, September 6th. They set an “equal weight” rating and a $210.00 price target on the stock. JPMorgan Chase & Co. cut shares of Honeywell International from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $225.00 to $235.00 in a research note on Thursday. StockNews.com lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company cut their target price on shares of Honeywell International from $215.00 to $207.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $223.56.
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.
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