Gulf International Bank UK Ltd Reduces Stock Position in Honeywell International Inc. (NASDAQ:HON)

Gulf International Bank UK Ltd lowered its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 27.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,107 shares of the conglomerate’s stock after selling 14,371 shares during the period. Gulf International Bank UK Ltd’s holdings in Honeywell International were worth $7,857,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HON. Capital World Investors purchased a new stake in shares of Honeywell International in the fourth quarter worth $1,594,216,000. Nuveen LLC purchased a new stake in shares of Honeywell International in the first quarter worth $1,150,929,000. GAMMA Investing LLC raised its position in shares of Honeywell International by 20,894.0% in the first quarter. GAMMA Investing LLC now owns 1,326,614 shares of the conglomerate’s stock worth $2,809,110,000 after buying an additional 1,320,295 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Honeywell International by 592.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate’s stock worth $183,728,000 after buying an additional 742,281 shares in the last quarter. Finally, Demars Financial Group LLC purchased a new stake in shares of Honeywell International in the fourth quarter worth $155,407,000. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Stock Performance

NASDAQ HON opened at $217.01 on Wednesday. The company has a 50-day simple moving average of $228.28 and a two-hundred day simple moving average of $216.81. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77. The firm has a market cap of $137.78 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.44 and a beta of 1.08.

Honeywell International (NASDAQ:HON) last posted its earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.01 billion. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. Honeywell International’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 earnings per share. On average, equities analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, August 15th. Honeywell International’s dividend payout ratio is currently 51.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HON. Wall Street Zen upgraded Honeywell International from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. Barclays increased their target price on Honeywell International from $258.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Citigroup increased their target price on Honeywell International from $242.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Mizuho increased their target price on Honeywell International from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Finally, Bank of America raised Honeywell International from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.00.

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.