Farmers National Bank Decreases Position in Honeywell International Inc. (HON)
Farmers National Bank lessened its holdings in shares of Honeywell International Inc. (NYSE:HON) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,332 shares of the conglomerate’s stock after selling 307 shares during the quarter. Farmers National Bank’s holdings in Honeywell International were worth $444,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Janus Henderson Group PLC increased its position in Honeywell International by 4,986.7% during the second quarter. Janus Henderson Group PLC now owns 4,395,092 shares of the conglomerate’s stock worth $585,822,000 after acquiring an additional 4,308,688 shares during the period. Ameriprise Financial Inc. increased its position in Honeywell International by 38.9% during the second quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock worth $1,776,394,000 after acquiring an additional 3,728,533 shares during the period. Clearbridge Investments LLC increased its position in Honeywell International by 69.2% during the first quarter. Clearbridge Investments LLC now owns 5,171,598 shares of the conglomerate’s stock worth $645,777,000 after acquiring an additional 2,114,627 shares during the period. Harbour Capital Advisors LLC increased its position in Honeywell International by 13,551.7% during the second quarter. Harbour Capital Advisors LLC now owns 1,804,613 shares of the conglomerate’s stock worth $13,539,000 after acquiring an additional 1,791,394 shares during the period. Finally, Vanguard Group Inc. increased its position in Honeywell International by 2.5% during the second quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock worth $6,626,247,000 after acquiring an additional 1,234,672 shares during the period. 76.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the stock. Citigroup set a $180.00 target price on shares of Honeywell International and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus dropped their target price on shares of Honeywell International from $171.00 to $169.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer lifted their price target on shares of Honeywell International from $155.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday. Jefferies Group lifted their price target on shares of Honeywell International from $162.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of Honeywell International to $163.00 and gave the stock an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $159.79.
Shares of Honeywell International Inc. (NYSE HON) opened at $154.25 on Friday. Honeywell International Inc. has a 52 week low of $113.60 and a 52 week high of $156.70. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. The company has a market cap of $115,966.05, a price-to-earnings ratio of 22.05, a PEG ratio of 2.34 and a beta of 0.99.
Honeywell International (NYSE:HON) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.75. The business had revenue of $10.12 billion for the quarter, compared to the consensus estimate of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. sell-side analysts expect that Honeywell International Inc. will post 7.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were given a dividend of $0.745 per share. This is an increase from Honeywell International’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.98 annualized dividend and a yield of 1.93%. Honeywell International’s dividend payout ratio is 45.15%.
Honeywell International announced that its Board of Directors has authorized a stock buyback program on Friday, December 8th that permits the company to buyback $6.50 billion in shares. This buyback authorization permits the conglomerate to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management 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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