Adell Harriman & Carpenter Inc. Sells 8,686 Shares of Honeywell International Inc. $HON

Adell Harriman & Carpenter Inc. lessened its stake in Honeywell International Inc. (NASDAQ:HON) by 19.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,192 shares of the conglomerate’s stock after selling 8,686 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Honeywell International were worth $8,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Prairie Wealth Advisors Inc. lifted its stake in Honeywell International by 5.6% during the second quarter. Prairie Wealth Advisors Inc. now owns 3,570 shares of the conglomerate’s stock worth $831,000 after purchasing an additional 190 shares during the period. Spinnaker Trust boosted its stake in shares of Honeywell International by 3.3% during the 2nd quarter. Spinnaker Trust now owns 11,975 shares of the conglomerate’s stock worth $2,789,000 after buying an additional 377 shares during the last quarter. Savvy Advisors Inc. boosted its stake in shares of Honeywell International by 34.7% during the 2nd quarter. Savvy Advisors Inc. now owns 8,320 shares of the conglomerate’s stock worth $1,938,000 after buying an additional 2,143 shares during the last quarter. Noesis Capital Mangement Corp acquired a new stake in Honeywell International in the 2nd quarter valued at about $278,000. Finally, Assetmark Inc. increased its holdings in shares of Honeywell International by 1.9% in the second quarter. Assetmark Inc. now owns 22,921 shares of the conglomerate’s stock valued at $5,338,000 after purchasing an additional 429 shares during the last quarter. Institutional investors own 75.91% of the company’s stock.

Insider Transactions at Honeywell International

In other Honeywell International 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Honeywell International from $245.00 to $235.00 and set an “equal weight” rating on the stock in a report on Tuesday. TD Cowen dropped their price target on shares of Honeywell International from $260.00 to $250.00 in a research report on Tuesday, October 7th. Citigroup lifted their price target on shares of Honeywell International from $265.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Rothschild & Co Redburn decreased their price objective on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Robert W. Baird decreased their price objective on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $250.25.

Honeywell International Stock Performance

Shares of Honeywell International stock opened at $212.89 on Thursday. The stock has a market cap of $135.16 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 2.75 and a beta of 1.06. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. Honeywell International Inc. has a twelve month low of $179.36 and a twelve month high of $242.77. The company’s fifty day moving average is $211.89 and its 200 day moving average is $218.15.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The firm had revenue of $8.95 billion for 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. Sell-side analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.2%. 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. Honeywell International’s payout ratio is currently 50.16%.

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.