Bowen Hanes & Co. Inc. Trims Stock Holdings in Honeywell International Inc. $HON

Bowen Hanes & Co. Inc. lessened its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,738 shares of the conglomerate’s stock after selling 500 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Honeywell International were worth $12,049,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HON. Nuveen LLC purchased a new position in shares of Honeywell International during the 1st quarter worth approximately $1,150,929,000. Wellington Management Group LLP boosted its position in shares of Honeywell International by 8.9% during the first quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock worth $3,335,476,000 after buying an additional 1,293,137 shares during the period. Alliancebernstein L.P. boosted its position in shares of Honeywell International by 64.6% during the first quarter. Alliancebernstein L.P. now owns 2,652,344 shares of the conglomerate’s stock worth $561,634,000 after buying an additional 1,041,273 shares during the period. Vista Cima Wealth Management LLC acquired a new stake in shares of Honeywell International in the first quarter valued at $164,000. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Honeywell International in the 2nd quarter valued at $140,816,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Honeywell International Trading Up 1.0%

NASDAQ HON opened at $190.02 on Friday. Honeywell International Inc. has a 52 week low of $169.21 and a 52 week high of $228.04. The firm has a 50 day moving average of $204.74 and a two-hundred day moving average of $217.32. 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 has a market capitalization of $120.64 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The business had revenue of $8.95 billion during 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, research analysts expect that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently declared 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 a positive change from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a yield of 2.5%. Honeywell International’s dividend payout ratio (DPR) is presently 50.16%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Honeywell International from $271.00 to $265.00 and set a “buy” rating for the company in a report on Friday, October 24th. Argus dropped their price objective on shares of Honeywell International from $250.00 to $225.00 in a report on Friday, November 14th. Barclays upped their target price on shares of Honeywell International from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Honeywell International in a research report on Wednesday. Finally, Royal Bank Of Canada raised Honeywell International from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $235.00 to $253.00 in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $239.38.

Insider Activity

In other news, CEO Lucian Boldea sold 42,149 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the transaction, the chief executive officer owned 10,334 shares in the company, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

About Honeywell International

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.