Pinnacle Associates Ltd. Reduces Stock Position in Honeywell International Inc. (NASDAQ:HON)

Pinnacle Associates Ltd. cut its stake in Honeywell International Inc. (NASDAQ:HON) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,752 shares of the conglomerate’s stock after selling 672 shares during the period. Pinnacle Associates Ltd.’s holdings in Honeywell International were worth $26,628,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HON. Capital World Investors purchased a new position in Honeywell International in the fourth quarter valued at about $1,594,216,000. GAMMA Investing LLC increased its holdings in Honeywell International by 20,894.0% in the first quarter. GAMMA Investing LLC now owns 1,326,614 shares of the conglomerate’s stock valued at $2,809,110,000 after buying an additional 1,320,295 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Honeywell International by 592.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate’s stock valued at $183,728,000 after buying an additional 742,281 shares in the last quarter. Demars Financial Group LLC acquired a new stake in shares of Honeywell International in the fourth quarter valued at approximately $155,407,000. Finally, Geode Capital Management LLC grew its position in shares of Honeywell International by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 14,988,152 shares of the conglomerate’s stock valued at $3,379,568,000 after purchasing an additional 627,422 shares during the last quarter. 75.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HON shares. Wall Street Zen upgraded shares of Honeywell International from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $226.00 price target on shares of Honeywell International in a research report on Wednesday, June 25th. Wells Fargo & Company increased their price target on shares of Honeywell International from $225.00 to $240.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 1st. Mizuho increased their price target on shares of Honeywell International from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Finally, Bank of America upgraded shares of Honeywell International from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Wednesday, May 7th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Honeywell International currently has a consensus rating of “Moderate Buy” and an average price target of $250.79.

Honeywell International Stock Performance

Shares of HON stock opened at $239.27 on Thursday. The company’s fifty day simple moving average is $229.34 and its 200-day simple moving average is $216.95. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $243.93. The company has a current ratio of 1.25, a quick ratio of 0.95 and a debt-to-equity ratio of 1.43. The company has a market cap of $153.77 billion, a PE ratio of 27.50, a P/E/G ratio of 2.69 and a beta of 1.07.

Honeywell International (NASDAQ:HON) last issued its earnings results on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.12. Honeywell International had a net margin of 14.51% and a return on equity of 36.19%. As a group, equities research analysts anticipate that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Friday, May 16th. Honeywell International’s dividend payout ratio is presently 51.95%.

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.