Brookstone Capital Management Cuts Position in Honeywell International Inc. $HON

Brookstone Capital Management decreased its position in Honeywell International Inc. (NASDAQ:HON) by 22.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,168 shares of the conglomerate’s stock after selling 4,742 shares during the quarter. Brookstone Capital Management’s holdings in Honeywell International were worth $3,765,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Red Door Wealth Management LLC increased its position in shares of Honeywell International by 2.6% during the first quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate’s stock worth $6,160,000 after acquiring an additional 736 shares during the period. Amundi increased its position in shares of Honeywell International by 30.2% during the first quarter. Amundi now owns 519,882 shares of the conglomerate’s stock worth $107,450,000 after acquiring an additional 120,706 shares during the period. Spinnaker Trust increased its position in shares of Honeywell International by 2.4% during the first quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate’s stock worth $2,456,000 after acquiring an additional 276 shares during the period. Triton Financial Group Inc purchased a new stake in shares of Honeywell International during the second quarter worth $1,001,000. Finally, Baxter Bros Inc. increased its position in shares of Honeywell International by 14.6% during the second quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate’s stock worth $8,321,000 after acquiring an additional 4,543 shares during the period. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Insider Transactions at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total value of $9,339,375.42. Following the completion of the sale, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Honeywell International Stock Performance

NASDAQ HON opened at $220.67 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.29 and a quick ratio of 0.97. Honeywell International Inc. has a 1 year low of $179.36 and a 1 year high of $242.77. The company has a market capitalization of $140.10 billion, a PE ratio of 25.10, a P/E/G ratio of 2.56 and a beta of 1.06. The company has a fifty day moving average of $212.05 and a two-hundred day moving average of $217.19.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The company had revenue of $8.95 billion during the quarter. 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 expect that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be paid a $1.19 dividend. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, November 14th. Honeywell International’s payout ratio is currently 54.15%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HON. Morgan Stanley upped their price objective on Honeywell International from $225.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. Jefferies Financial Group dropped their target price on Honeywell International from $240.00 to $230.00 and set a “hold” rating on the stock in a report on Tuesday, October 7th. Wells Fargo & Company dropped 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. Robert W. Baird dropped their target price on Honeywell International from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Honeywell International in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $251.67.

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.