Municipal Employees Retirement System of Michigan Trims Holdings in Honeywell International Inc. (HON)

Municipal Employees Retirement System of Michigan decreased its position in shares of Honeywell International Inc. (NYSE:HON) by 11.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 41,850 shares of the conglomerate’s stock after selling 5,200 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Honeywell International were worth $5,932,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Schulhoff & Co. Inc. raised its position in shares of Honeywell International by 1.8% during the 2nd quarter. Schulhoff & Co. Inc. now owns 11,440 shares of the conglomerate’s stock valued at $1,524,000 after acquiring an additional 203 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Honeywell International by 5.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 217,832 shares of the conglomerate’s stock valued at $29,184,000 after acquiring an additional 11,091 shares during the last quarter. YHB Investment Advisors Inc. raised its position in shares of Honeywell International by 30.7% during the 2nd quarter. YHB Investment Advisors Inc. now owns 25,186 shares of the conglomerate’s stock valued at $3,357,000 after acquiring an additional 5,913 shares during the last quarter. AGF Investments America Inc. increased its position in shares of Honeywell International by 3.6% in the 2nd quarter. AGF Investments America Inc. now owns 47,702 shares of the conglomerate’s stock valued at $6,358,000 after buying an additional 1,668 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Honeywell International by 2.8% in the 2nd quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock valued at $6,003,117,000 after buying an additional 1,207,893 shares in the last quarter. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on HON shares. Zacks Investment Research upgraded shares of Honeywell International from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research report on Thursday, September 21st. Deutsche Bank restated a “buy” rating and issued a $171.00 price objective on shares of Honeywell International in a research report on Tuesday, November 28th. Royal Bank of Canada upped their price objective on shares of Honeywell International from $148.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. Citigroup upped their price objective 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. Finally, Oppenheimer upped their price objective on shares of Honeywell International from $155.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, December 14th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Honeywell International currently has an average rating of “Buy” and a consensus price target of $160.14.

Honeywell International Inc. (HON) opened at $154.74 on Tuesday. The firm has a market cap of $117,110.00, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.37 and a beta of 0.99. 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 one year low of $116.66 and a one year high of $156.70.

Honeywell International (NYSE:HON) last announced its earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.75. The firm had revenue of $10.12 billion during the quarter, compared to analyst estimates of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.60 EPS. analysts predict that Honeywell International Inc. will post 7.1 earnings per share for the current year.

Honeywell International declared that its Board of Directors has authorized a share buyback program on Friday, December 8th that authorizes the company to repurchase $6.50 billion in shares. This repurchase authorization authorizes the conglomerate to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In related news, VP Krishna Mikkilineni sold 13,074 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total value of $1,897,298.88. Following the completion of the transaction, the vice president now directly owns 104,998 shares of the company’s stock, valued at approximately $15,237,309.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bradley T. Sheares sold 1,328 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was 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 directly owns 4,002 shares of the company’s stock, valued at $585,932.82. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by corporate insiders.

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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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Institutional Ownership by Quarter for Honeywell International (NYSE:HON)

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