BARING ASSET MANAGEMENT Ltd lessened its position in Honeywell International Inc. (NYSE:HON) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,239 shares of the conglomerate’s stock after selling 1,287 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Honeywell International were worth $3,153,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Hanson McClain Inc. increased its holdings 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 increased its holdings 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. Hudock Capital Group LLC increased its holdings in shares of Honeywell International by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 4,041 shares of the conglomerate’s stock worth $538,000 after acquiring an additional 14 shares during the period. Rowland & Co. Investment Counsel ADV grew its position in Honeywell International by 0.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,735 shares of the conglomerate’s stock valued at $499,000 after buying an additional 14 shares in the last quarter. Finally, Jacobi Capital Management LLC grew its position in Honeywell International by 0.6% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,800 shares of the conglomerate’s stock valued at $377,000 after buying an additional 16 shares in the last quarter. 76.29% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Bradley T. Sheares sold 1,328 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $146.41, for a total transaction of $194,432.48. Following the completion of the transaction, the director now owns 4,002 shares in the company, valued at approximately $585,932.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Krishna Mikkilineni sold 13,074 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $15,237,309.76. The disclosure for this sale can be found here. Company insiders own 1.56% of the company’s stock.
Honeywell International (NYSE:HON) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.75. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The company had revenue of $10.12 billion during the quarter, compared to analyst estimates of $10.05 billion. During the same quarter last year, the firm posted $1.60 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. sell-side analysts expect that Honeywell International Inc. will post 7.1 earnings per share for the current year.
Honeywell International declared that its board has authorized a stock buyback plan on Friday, December 8th that allows the company to buyback $6.50 billion in shares. This buyback authorization allows the conglomerate to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were given 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 of this dividend was Thursday, November 16th. This represents a $2.98 annualized dividend and a dividend yield of 1.94%. Honeywell International’s dividend payout ratio (DPR) is 45.15%.
A number of equities analysts recently issued reports on HON shares. Vertical Research reiterated a “buy” rating on shares of Honeywell International in a research report on Friday, October 20th. Cowen reiterated a “buy” rating and issued a $150.00 target price on shares of Honeywell International in a research report on Thursday, October 19th. Argus increased their target price on shares of Honeywell International from $152.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, October 12th. Robert W. Baird reiterated a “buy” rating and issued a $156.00 target price (up previously from $140.00) on shares of Honeywell International in a research report on Wednesday, October 11th. Finally, Citigroup increased their target price on shares of Honeywell International from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, October 9th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $160.50.
Honeywell International Profile
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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