Grassi Investment Management Lowers Holdings in Honeywell International Inc. (NASDAQ:HON)

Grassi Investment Management decreased its position in Honeywell International Inc. (NASDAQ:HON) by 3.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,247 shares of the conglomerate’s stock after selling 1,999 shares during the period. Honeywell International accounts for about 1.1% of Grassi Investment Management’s investment portfolio, making the stock its 23rd biggest position. Grassi Investment Management’s holdings in Honeywell International were worth $12,334,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Honeywell International by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 61,761,711 shares of the conglomerate’s stock worth $13,951,353,000 after buying an additional 380,299 shares during the period. Geode Capital Management LLC lifted its holdings in Honeywell International by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 14,988,152 shares of the conglomerate’s stock worth $3,379,568,000 after buying an additional 627,422 shares during the period. Capital World Investors purchased a new stake in Honeywell International during the fourth quarter worth $1,594,216,000. Bank of New York Mellon Corp lifted its holdings in Honeywell International by 10.3% during the fourth quarter. Bank of New York Mellon Corp now owns 6,763,764 shares of the conglomerate’s stock worth $1,527,867,000 after buying an additional 631,761 shares during the period. Finally, Capital Research Global Investors lifted its holdings in Honeywell International by 5.5% during the fourth quarter. Capital Research Global Investors now owns 6,641,017 shares of the conglomerate’s stock worth $1,500,141,000 after buying an additional 346,190 shares during the period. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Price Performance

Shares of HON opened at $227.45 on Thursday. The business’s 50-day moving average is $209.84 and its two-hundred day moving average is $216.23. The company has a market capitalization of $146.18 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.51 and a beta of 1.07. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.01 and a current ratio of 1.31. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings results on Tuesday, April 29th. The conglomerate reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.30. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.59 billion. Honeywell International had a return on equity of 35.78% and a net margin of 14.82%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.25 EPS. Research analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, May 16th. Honeywell International’s dividend payout ratio (DPR) is presently 51.95%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Bank of America upgraded Honeywell International from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on Honeywell International from $182.00 to $217.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Citigroup increased their price objective on Honeywell International from $242.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday. Wall Street Zen upgraded Honeywell International from a “hold” rating to a “buy” rating in a report on Thursday, May 15th. Finally, Barclays decreased their price objective on Honeywell International from $247.00 to $243.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $248.14.

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.