KCM Investment Advisors LLC Cuts Stock Position in Honeywell International Inc. $HON

KCM Investment Advisors LLC cut its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 14,715 shares of the conglomerate’s stock after selling 270 shares during the period. KCM Investment Advisors LLC’s holdings in Honeywell International were worth $3,427,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Honeywell International by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate’s stock valued at $13,172,852,000 after buying an additional 447,744 shares in the last quarter. Wellington Management Group LLP increased its stake in Honeywell International by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock worth $3,335,476,000 after buying an additional 1,293,137 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Honeywell International by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 6,777,498 shares of the conglomerate’s stock valued at $1,578,344,000 after acquiring an additional 48,968 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Honeywell International by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate’s stock valued at $1,278,563,000 after acquiring an additional 505,083 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Honeywell International by 5.4% in the first quarter. Invesco Ltd. now owns 5,568,610 shares of the conglomerate’s stock valued at $1,179,153,000 after acquiring an additional 283,193 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Lucian Boldea sold 42,149 shares of the firm’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 completion of the transaction, the chief executive officer owned 10,334 shares in the company, valued at $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HON. Weiss Ratings reiterated a “buy (b-)” rating on shares of Honeywell International in a research report on Wednesday, October 8th. TD Cowen dropped their target price on shares of Honeywell International from $260.00 to $250.00 in a report on Tuesday, October 7th. Citigroup increased their target price on shares of Honeywell International from $251.56 to $267.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird lowered their price target on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Honeywell International from $212.00 to $218.00 and gave the company a “neutral” rating in a report on Friday, October 24th. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.63.

Honeywell International Trading Down 0.9%

Shares of HON opened at $194.07 on Friday. 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 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $123.21 billion, a P/E ratio of 20.45, a PEG ratio of 2.73 and a beta of 1.07. The firm’s 50-day moving average is $208.63 and its two-hundred day moving average is $218.04.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The business had revenue of $8.95 billion for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. On average, research analysts predict 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. Shareholders of record on Friday, November 14th will be given a dividend of $1.19 per share. 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 dividend on an annualized basis and a yield of 2.5%. Honeywell International’s dividend payout ratio (DPR) is presently 50.16%.

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.