Essex LLC Lowers Stake in Honeywell International Inc. $HON

Essex LLC cut its position in Honeywell International Inc. (NASDAQ:HON) by 21.4% in the second quarter, HoldingsChannel.com reports. The firm owned 10,466 shares of the conglomerate’s stock after selling 2,842 shares during the quarter. Essex LLC’s holdings in Honeywell International were worth $2,437,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Honeywell International by 9.1% during the fourth quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate’s stock valued at $4,302,000 after acquiring an additional 1,582 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Honeywell International by 9.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 334,145 shares of the conglomerate’s stock worth $70,755,000 after purchasing an additional 29,504 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Honeywell International by 3.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 296,890 shares of the conglomerate’s stock valued at $62,867,000 after purchasing an additional 10,536 shares during the period. Sowell Financial Services LLC lifted its holdings in Honeywell International by 12.0% in the 1st quarter. Sowell Financial Services LLC now owns 11,351 shares of the conglomerate’s stock worth $2,404,000 after purchasing an additional 1,220 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Honeywell International by 1.2% in the 1st quarter. QRG Capital Management Inc. now owns 74,916 shares of the conglomerate’s stock worth $15,864,000 after purchasing an additional 864 shares during the period. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Trading Up 2.8%

HON stock opened at $208.61 on Wednesday. Honeywell International Inc. has a twelve month low of $179.36 and a twelve month high of $242.77. The stock has a market capitalization of $132.45 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81. The firm’s fifty day simple moving average is $213.50 and its two-hundred day simple moving average is $217.14.

Honeywell International (NASDAQ:HON) last released its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The firm had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. As a group, analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a $1.19 dividend. The ex-dividend date is Friday, November 14th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a dividend yield of 2.3%. Honeywell International’s dividend payout ratio (DPR) is currently 54.15%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Honeywell International from $258.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. TD Cowen dropped their price objective on shares of Honeywell International from $260.00 to $250.00 in a report on Tuesday, October 7th. Wells Fargo & Company reduced their target price on Honeywell International from $230.00 to $220.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Honeywell International in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Honeywell International from $268.00 to $271.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $252.00.

Insider Activity

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the transaction, the chief executive officer owned 10,334 shares of the company’s stock, valued at $2,289,807.72. This represents a 80.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

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.