First Manhattan Co. Has $257.14 Million Stake in Honeywell International Inc. (HON)
First Manhattan Co. lowered its position in Honeywell International Inc. (NYSE:HON) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,929,154 shares of the conglomerate’s stock after selling 42,434 shares during the period. Honeywell International comprises about 2.2% of First Manhattan Co.’s portfolio, making the stock its 6th largest position. First Manhattan Co. owned about 0.25% of Honeywell International worth $257,138,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in HON. Waldron LP raised its holdings in shares of Honeywell International by 70.0% in the first quarter. Waldron LP now owns 6,715 shares of the conglomerate’s stock valued at $826,000 after purchasing an additional 2,765 shares during the last quarter. Hudock Capital Group LLC increased its holdings in Honeywell International by 0.3% during the first quarter. Hudock Capital Group LLC now owns 4,027 shares of the conglomerate’s stock worth $502,000 after buying an additional 14 shares during the last quarter. Benedict Financial Advisors Inc. increased its holdings in Honeywell International by 6.6% during the first quarter. Benedict Financial Advisors Inc. now owns 25,775 shares of the conglomerate’s stock worth $3,218,000 after buying an additional 1,598 shares during the last quarter. Moloney Securities Asset Management LLC increased its holdings in Honeywell International by 18.7% during the first quarter. Moloney Securities Asset Management LLC now owns 2,970 shares of the conglomerate’s stock worth $371,000 after buying an additional 467 shares during the last quarter. Finally, First Merchants Corp increased its holdings in Honeywell International by 1.8% during the first quarter. First Merchants Corp now owns 24,775 shares of the conglomerate’s stock worth $3,094,000 after buying an additional 436 shares during the last quarter. Institutional investors own 75.77% of the company’s stock.
Honeywell International Inc. (HON) opened at 143.62 on Friday. Honeywell International Inc. has a 12 month low of $105.26 and a 12 month high of $143.75. The firm’s 50-day moving average is $138.84 and its 200-day moving average is $133.72. The company has a market cap of $109.23 billion, a price-to-earnings ratio of 22.27 and a beta of 0.95. Honeywell International also saw some unusual options trading on Thursday. Investors purchased 17,188 call options on the company. This represents an increase of 570% compared to the average daily volume of 2,566 call options.
Honeywell International (NYSE:HON) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.02. The company had revenue of $10.08 billion during the quarter, compared to the consensus estimate of $9.89 billion. Honeywell International had a return on equity of 26.60% and a net margin of 12.68%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $1.70 EPS. On average, analysts anticipate that Honeywell International Inc. will post $7.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a dividend of $0.745 per share. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Honeywell International’s previous quarterly dividend of $0.67. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.07%. Honeywell International’s payout ratio is 41.24%.
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In related news, insider Timothy O. Mahoney sold 341,701 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $138.08, for a total transaction of $47,182,074.08. Following the completion of the transaction, the insider now directly owns 294,155 shares in the company, valued at approximately $40,616,922.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas A. Szlosek sold 803 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $137.02, for a total value of $110,027.06. Following the transaction, the chief financial officer now owns 5,702 shares of the company’s stock, valued at $781,288.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 354,108 shares of company stock valued at $48,886,463. 1.56% of the stock is currently owned by corporate insiders.
A number of analysts recently issued reports on the stock. HSBC Holdings plc assumed coverage on shares of Honeywell International in a report on Wednesday, June 21st. They set a “buy” rating and a $147.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and set a $155.00 price objective on shares of Honeywell International in a report on Tuesday, August 22nd. Royal Bank Of Canada set a $148.00 price objective on shares of Honeywell International and gave the stock a “buy” rating in a report on Sunday, August 27th. Zacks Investment Research downgraded shares of Honeywell International from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Finally, BidaskClub upgraded shares of Honeywell International from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $142.22.
Honeywell International Company Profile
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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