Gofen & Glossberg LLC IL Lowers Stake in Honeywell International Inc. (HON)
Gofen & Glossberg LLC IL lessened its holdings in Honeywell International Inc. (NYSE:HON) by 1.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 189,155 shares of the conglomerate’s stock after selling 3,240 shares during the period. Honeywell International comprises 1.0% of Gofen & Glossberg LLC IL’s holdings, making the stock its 27th biggest position. Gofen & Glossberg LLC IL’s holdings in Honeywell International were worth $25,212,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Burt Wealth Advisors lifted its position in shares of Honeywell International by 65.4% in the 2nd quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock worth $101,000 after purchasing an additional 300 shares during the period. Mosaic Family Wealth LLC lifted its position in Honeywell International by 11.4% during the second quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock valued at $102,000 after acquiring an additional 78 shares during the last quarter. Guidant Wealth Advisors lifted its position in Honeywell International by 15.8% during the second quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock valued at $102,000 after acquiring an additional 104 shares during the last quarter. CKW Financial Group purchased a new stake in Honeywell International during the second quarter valued at approximately $108,000. Finally, Hanson McClain Inc. lifted its position in Honeywell International by 0.4% during the first quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock valued at $101,000 after acquiring an additional 3 shares during the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on HON shares. Morgan Stanley increased their target price on shares of Honeywell International from $141.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised shares of Honeywell International from a “hold” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Thursday, August 17th. Jefferies Group reissued a “buy” rating and set a $155.00 target price on shares of Honeywell International in a research report on Tuesday, August 22nd. Royal Bank of Canada set a $148.00 target price on shares of Honeywell International and gave the company a “buy” rating in a research report on Sunday, August 27th. Finally, Deutsche Bank reissued a “buy” rating and set a $154.00 target price on shares of Honeywell International in a research report on Thursday, September 21st. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Honeywell International presently has an average rating of “Buy” and an average price target of $154.00.
In other Honeywell International news, VP Krishna Mikkilineni sold 13,074 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the transaction, the vice president now owns 104,998 shares in the company, valued at approximately $15,237,309.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bradley T. Sheares sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $146.41, for a total transaction of $194,432.48. Following the transaction, the director now owns 4,002 shares in the company, valued at approximately $585,932.82. The disclosure for this sale can be found here. Corporate insiders own 1.56% of the company’s stock.
Shares of Honeywell International Inc. (NYSE HON) traded up $2.38 during trading on Wednesday, reaching $156.12. 1,826,951 shares of the company’s stock were exchanged, compared to its average volume of 2,709,838. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 1.09. Honeywell International Inc. has a twelve month low of $113.60 and a twelve month high of $156.70. The firm has a market cap of $115,950.92, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.35 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, meeting the Zacks’ consensus estimate of $1.75. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The business had revenue of $10.12 billion for the quarter, compared to analyst estimates of $10.05 billion. During the same quarter in the prior year, the business posted $1.60 EPS. Honeywell International’s revenue for the quarter was up 3.2% compared to the same quarter last year. equities research analysts anticipate that Honeywell International Inc. will post 7.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 17th were paid a dividend of $0.745 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 16th. This represents a $2.98 dividend on an annualized basis and a yield of 1.91%. Honeywell International’s dividend payout ratio is presently 45.15%.
Honeywell International announced that its board has authorized a share buyback program on Friday, December 8th that allows the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization allows the conglomerate to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are 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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