Envestnet Asset Management Inc. Has $196.72 Million Stock Holdings in Honeywell International Inc. $HON

Envestnet Asset Management Inc. reduced its position in shares of Honeywell International Inc. (NASDAQ:HON) by 9.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 844,719 shares of the conglomerate’s stock after selling 89,741 shares during the period. Envestnet Asset Management Inc.’s holdings in Honeywell International were worth $196,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Chung Wu Investment Group LLC bought a new position in shares of Honeywell International during the second quarter valued at $26,000. Pandora Wealth Inc. acquired a new position in Honeywell International during the 1st quarter worth about $33,000. RMG Wealth Management LLC bought a new stake in shares of Honeywell International in the 2nd quarter valued at about $33,000. Activest Wealth Management increased its stake in shares of Honeywell International by 425.9% in the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after buying an additional 115 shares during the period. Finally, 1248 Management LLC bought a new position in shares of Honeywell International during the first quarter worth about $38,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction on 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 owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HON has been the topic of several analyst reports. Wells Fargo & Company upped their target price on Honeywell International from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Honeywell International from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday. Jefferies Financial Group decreased their price objective on shares of Honeywell International from $240.00 to $230.00 and set a “hold” rating for the company in a research report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Honeywell International in a research note on Wednesday, October 8th. Finally, Rothschild & Co Redburn dropped their target price on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.88.

Honeywell International Price Performance

Shares of NASDAQ HON opened at $215.07 on Tuesday. The firm’s 50-day moving average price is $212.01 and its 200-day moving average price is $217.90. Honeywell International Inc. has a 1-year low of $179.36 and a 1-year high of $242.77. The firm has a market capitalization of $136.55 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.64 and a beta of 1.06. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70.

Honeywell International (NASDAQ:HON) last issued its earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.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. Equities research analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.2%. Honeywell International’s payout ratio is currently 47.63%.

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.