Franklin Resources Inc. Has $1.84 Billion Position in Honeywell International Inc. $HON

Franklin Resources Inc. lessened its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,919,309 shares of the conglomerate’s stock after selling 87,913 shares during the quarter. Franklin Resources Inc. owned approximately 1.25% of Honeywell International worth $1,844,249,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Honeywell International during the 1st quarter valued at $1,150,929,000. Wellington Management Group LLP lifted its position in shares of Honeywell International by 8.9% in 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 last quarter. Alliancebernstein L.P. lifted its position in shares of Honeywell International by 64.6% in 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 last quarter. Vista Cima Wealth Management LLC bought a new stake in shares of Honeywell International during the 1st quarter worth about $164,000. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Honeywell International during the 2nd quarter valued at about $140,816,000. 75.91% of the stock is owned by institutional investors.

Insider Transactions at Honeywell International

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the transaction, the chief executive officer directly owned 10,334 shares in the company, valued at $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Honeywell International Trading Down 1.3%

Honeywell International stock opened at $188.14 on Friday. The business has a 50 day moving average price of $205.16 and a two-hundred day moving average price of $217.49. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. Honeywell International Inc. has a 12 month low of $169.21 and a 12 month high of $228.04. The stock has a market cap of $119.45 billion, a price-to-earnings ratio of 19.83, 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. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The business had revenue of $8.95 billion for the quarter. 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, equities analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be paid a $1.19 dividend. The ex-dividend date is Friday, November 14th. This represents a $4.76 annualized dividend and a dividend yield of 2.5%. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s dividend payout ratio is currently 50.16%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HON. TD Cowen reduced their target price on Honeywell International from $250.00 to $240.00 and set a “buy” rating for the company in a report on Monday, November 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Honeywell International in a research report on Wednesday. Jefferies Financial Group reduced their price objective on shares of Honeywell International from $230.00 to $220.00 in a research note on Monday, November 3rd. Royal Bank Of Canada raised shares of 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 report on Monday, October 27th. Finally, Wells Fargo & Company lowered their target price on shares of Honeywell International from $230.00 to $218.00 and set an “equal weight” rating on the stock in a research note on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Honeywell International has an average rating of “Moderate Buy” and a consensus price target of $239.38.

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.