Bremer Trust National Association Lowers Holdings in Honeywell International Inc. (HON)
Bremer Trust National Association lowered its holdings in shares of Honeywell International Inc. (NYSE:HON) by 12.9% in the 4th quarter, Holdings Channel reports. The firm owned 6,980 shares of the conglomerate’s stock after selling 1,032 shares during the quarter. Bremer Trust National Association’s holdings in Honeywell International were worth $1,071,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in HON. Janus Henderson Group PLC raised its stake in shares of Honeywell International by 4,986.7% in the second quarter. Janus Henderson Group PLC now owns 4,395,092 shares of the conglomerate’s stock valued at $585,822,000 after acquiring an additional 4,308,688 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Honeywell International by 38.9% in the second quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock valued at $1,776,394,000 after acquiring an additional 3,728,533 shares during the period. Vanguard Group Inc. raised its stake in shares of Honeywell International by 2.5% in the second quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock valued at $6,626,247,000 after acquiring an additional 1,234,672 shares during the period. BlackRock Inc. raised its stake in shares of Honeywell International by 2.8% in the second quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock valued at $6,003,117,000 after acquiring an additional 1,207,893 shares during the period. Finally, Bain Capital Public Equity Management LLC purchased a new stake in shares of Honeywell International in the second quarter valued at $151,186,000. Institutional investors and hedge funds own 76.08% of the company’s stock.
Several brokerages have recently weighed in on HON. Vertical Research reissued a “buy” rating on shares of Honeywell International in a research note on Friday, October 20th. Oppenheimer increased their target price on shares of Honeywell International from $155.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, December 14th. Robert W. Baird reissued a “buy” rating and issued a $187.00 target price on shares of Honeywell International in a research note on Friday, January 26th. Cowen reissued a “buy” rating and issued a $168.00 target price on shares of Honeywell International in a research note on Monday, January 22nd. Finally, Zacks Investment Research downgraded shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Honeywell International has an average rating of “Buy” and an average price target of $163.93.
Honeywell International (NYSE:HON) last posted its quarterly earnings results on Friday, January 26th. The conglomerate reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.01. The company had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.80 billion. Honeywell International had a net margin of 4.08% and a return on equity of 27.27%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.74 EPS. analysts forecast that Honeywell International Inc. will post 7.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be paid a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, February 22nd. Honeywell International’s dividend payout ratio is presently 143.27%.
Honeywell International declared that its board has approved a stock buyback program on Friday, December 8th that authorizes the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization authorizes the conglomerate to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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About Honeywell International
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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