Topsail Wealth Management LLC Lowers Position in Honeywell International Inc. $HON

Topsail Wealth Management LLC trimmed its stake in Honeywell International Inc. (NASDAQ:HON) by 23.7% in the second quarter, Holdings Channel.com reports. The firm owned 1,151 shares of the conglomerate’s stock after selling 358 shares during the quarter. Topsail Wealth Management LLC’s holdings in Honeywell International were worth $268,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Chung Wu Investment Group LLC purchased a new stake in Honeywell International in the second quarter valued at approximately $26,000. Pandora Wealth Inc. purchased a new stake in Honeywell International in the first quarter valued at approximately $33,000. RMG Wealth Management LLC purchased a new stake in Honeywell International in the second quarter valued at approximately $33,000. Activest Wealth Management grew its holdings 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 purchasing an additional 115 shares during the period. Finally, 1248 Management LLC purchased a new stake in Honeywell International in the first quarter valued at approximately $38,000. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Honeywell International Trading Down 2.1%

NASDAQ HON opened at $216.14 on Friday. The company’s fifty day simple moving average is $212.04 and its 200-day simple moving average is $217.66. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.70. The stock has a market cap 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 earnings results 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 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. Equities research analysts predict that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.2%. Honeywell International’s dividend payout ratio is presently 51.42%.

Analysts Set New Price Targets

A number of research analysts have weighed in on HON shares. TD Cowen reduced their price target on shares of Honeywell International from $260.00 to $250.00 in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Honeywell International in a research report on Saturday. Citigroup lifted their price target on shares of Honeywell International from $265.00 to $267.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company lifted their price target on shares of Honeywell International from $220.00 to $230.00 in a research report on Friday. Finally, Morgan Stanley lifted their price target on shares of Honeywell International from $225.00 to $245.00 and gave the company an “equal weight” rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $251.60.

Insider Activity at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of the business’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 transaction, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. The trade was a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

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.