Oak Grove Capital LLC Cuts Position in Honeywell International Inc. (NASDAQ:HON)

Oak Grove Capital LLC trimmed its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 73.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,331 shares of the conglomerate’s stock after selling 11,827 shares during the quarter. Oak Grove Capital LLC’s holdings in Honeywell International were worth $917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new stake in Honeywell International during the 4th quarter worth about $29,000. Pandora Wealth Inc. acquired a new stake in Honeywell International during the 1st quarter worth about $33,000. Accredited Wealth Management LLC acquired a new stake in Honeywell International during the 4th quarter worth about $34,000. Alexis Investment Partners LLC acquired a new stake in Honeywell International during the 4th quarter worth about $37,000. Finally, Banque de Luxembourg S.A. acquired a new stake in Honeywell International during the 4th quarter worth about $38,000. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Honeywell International Stock Performance

NASDAQ HON opened at $218.20 on Friday. The stock has a market capitalization of $138.54 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.48 and a beta of 1.08. Honeywell International Inc. has a twelve month low of $179.36 and a twelve month high of $242.77. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average of $227.96 and a 200 day moving average of $216.78.

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

Honeywell International Announces Dividend

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

Wall Street Analyst Weigh In

HON has been the subject of a number of research reports. Bank of America raised Honeywell International from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Wednesday, May 7th. Wells Fargo & Company decreased their price objective on Honeywell International from $240.00 to $230.00 and set an “equal weight” rating for the company in a report on Friday, July 25th. Morgan Stanley boosted their price objective on Honeywell International from $225.00 to $245.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. Citigroup boosted their price objective on Honeywell International from $242.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Finally, Mizuho boosted their price objective on Honeywell International from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Eight investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $254.00.

Honeywell International Company 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.