Great Lakes Advisors LLC Trims Holdings in Honeywell International Inc. (HON)
Great Lakes Advisors LLC lowered its position in Honeywell International Inc. (NYSE:HON) by 84.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,494 shares of the conglomerate’s stock after selling 173,796 shares during the quarter. Great Lakes Advisors LLC’s holdings in Honeywell International were worth $4,332,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Hanson McClain Inc. lifted its position in shares of Honeywell International by 0.4% in the 1st quarter. Hanson McClain Inc. now owns 810 shares of the conglomerate’s stock worth $101,000 after acquiring an additional 3 shares during the period. Addison Capital Co lifted its position in shares of Honeywell International by 0.3% in the 2nd quarter. Addison Capital Co now owns 2,643 shares of the conglomerate’s stock worth $352,000 after acquiring an additional 7 shares during the period. Keel Point LLC lifted its position in shares of Honeywell International by 0.3% in the 1st quarter. Keel Point LLC now owns 3,487 shares of the conglomerate’s stock worth $435,000 after acquiring an additional 10 shares during the period. Point View Wealth Management Inc. lifted its position in shares of Honeywell International by 1.0% in the 1st quarter. Point View Wealth Management Inc. now owns 1,871 shares of the conglomerate’s stock worth $234,000 after acquiring an additional 19 shares during the period. Finally, CWM LLC lifted its position in shares of Honeywell International by 1.9% in the 2nd quarter. CWM LLC now owns 1,045 shares of the conglomerate’s stock worth $139,000 after acquiring an additional 19 shares during the period. Institutional investors own 75.93% of the company’s stock.
HON has been the subject of a number of research reports. Zacks Investment Research upgraded Honeywell International from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a research report on Thursday, July 20th. Deutsche Bank AG restated a “buy” rating and set a $154.00 target price on shares of Honeywell International in a research report on Thursday, September 21st. Citigroup Inc. raised their target price on Honeywell International from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Jefferies Group LLC restated a “buy” rating and set a $155.00 target price (up previously from $141.00) on shares of Honeywell International in a research report on Monday, July 24th. Finally, Cowen and Company restated a “buy” rating and set a $140.00 target price on shares of Honeywell International in a research report on Monday, July 17th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Honeywell International presently has a consensus rating of “Buy” and a consensus price target of $150.79.
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In other Honeywell International news, insider Rajeev Gautam sold 5,840 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $136.68, for a total transaction of $798,211.20. Following the completion of the sale, the insider now directly owns 16,597 shares in the company, valued at $2,268,477.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linnet F. Deily sold 4,344 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $138.47, for a total value of $601,513.68. Following the sale, the director now owns 9,753 shares of the company’s stock, valued at $1,350,497.91. The disclosure for this sale can be found here. 1.56% of the stock is owned by corporate insiders.
Honeywell International (NYSE:HON) last released its earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, hitting the consensus estimate of $1.75. Honeywell International had a return on equity of 26.26% and a net margin of 12.85%. The firm had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $10.05 billion. During the same period in the prior year, the company earned $1.60 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders 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 a boost from Honeywell International’s previous quarterly dividend of $0.67. This represents a $2.98 annualized dividend and a yield of 2.05%. Honeywell International’s dividend payout ratio is presently 40.30%.
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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