OVERSEA CHINESE BANKING Corp Ltd Sells 8,109 Shares of Honeywell International Inc. $HON

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 3.7% during the second quarter, Holdings Channel.com reports. The firm owned 210,867 shares of the conglomerate’s stock after selling 8,109 shares during the period. Honeywell International makes up 1.3% of OVERSEA CHINESE BANKING Corp Ltd’s holdings, making the stock its 16th biggest holding. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Honeywell International were worth $49,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chung Wu Investment Group LLC acquired a new stake in Honeywell International in the second quarter valued at approximately $26,000. RMG Wealth Management LLC acquired a new stake in Honeywell International in the second quarter valued at approximately $33,000. Activest Wealth Management boosted its stake in Honeywell International by 425.9% in the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after acquiring an additional 115 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in Honeywell International in the first quarter valued at approximately $33,000. Finally, Dogwood Wealth Management LLC boosted its stake in Honeywell International by 143.9% in the second quarter. Dogwood Wealth Management LLC now owns 161 shares of the conglomerate’s stock valued at $39,000 after acquiring an additional 95 shares in the last quarter. 75.91% of the stock is currently owned by institutional investors.

Honeywell International Trading Down 2.1%

NASDAQ:HON opened at $216.14 on Monday. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77. The firm has a fifty day simple moving average of $212.04 and a 200-day simple moving average of $217.79. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $137.23 billion, a P/E ratio of 22.78, a PEG ratio of 2.64 and a beta of 1.06.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business had revenue of $8.95 billion during 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. On average, equities research analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 2.2%. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International’s dividend payout ratio is 50.16%.

Insider Activity

In related news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were 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 owned 10,334 shares of the company’s stock, valued at $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on HON. Royal Bank Of Canada lowered their target price on shares of Honeywell International from $253.00 to $235.00 and set a “sector perform” rating for the company in a research note on Friday. Barclays raised their target price on shares of Honeywell International from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley raised their target price on shares of Honeywell International from $225.00 to $245.00 and gave the company an “equal weight” rating in a research note on Monday, July 28th. Robert W. Baird decreased their price target on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Finally, Wells Fargo & Company lifted their price objective on shares of Honeywell International from $220.00 to $230.00 in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $251.60.

Honeywell International Profile

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.