Sovereign Financial Group Inc. Sells 138 Shares of Honeywell International Inc. (NASDAQ:HON)

Sovereign Financial Group Inc. lowered its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,835 shares of the conglomerate’s stock after selling 138 shares during the period. Sovereign Financial Group Inc.’s holdings in Honeywell International were worth $389,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mainstream Capital Management LLC bought a new stake in Honeywell International in the fourth quarter worth $25,000. Avalon Trust Co boosted its stake in Honeywell International by 166.7% in the 4th quarter. Avalon Trust Co now owns 120 shares of the conglomerate’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in Honeywell International in the 4th quarter worth about $29,000. Accredited Wealth Management LLC bought a new position in Honeywell International in the 4th quarter worth about $34,000. Finally, Curio Wealth LLC bought a new position in shares of Honeywell International in the fourth quarter worth approximately $35,000. 75.91% of the stock is owned by institutional investors.

Honeywell International Price Performance

NASDAQ:HON opened at $228.78 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.31 and a debt-to-equity ratio of 1.33. The business’s 50-day simple moving average is $210.44 and its two-hundred day simple moving average is $216.15. The stock has a market cap of $147.03 billion, a PE ratio of 26.27, a P/E/G ratio of 2.51 and a beta of 1.08. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77.

Honeywell International (NASDAQ:HON) last issued its earnings results on Tuesday, April 29th. The conglomerate reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.30. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.59 billion. Honeywell International had a return on equity of 35.78% and a net margin of 14.82%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $2.25 EPS. As a group, analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 16th were issued a $1.13 dividend. The ex-dividend date was Friday, May 16th. This represents a $4.52 annualized dividend and a dividend yield of 1.98%. Honeywell International’s dividend payout ratio (DPR) is 51.95%.

Analyst Upgrades and Downgrades

HON has been the topic of several analyst reports. Bank of America upgraded shares of Honeywell International from a “neutral” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Wednesday, May 7th. Morgan Stanley upped their price objective on Honeywell International from $210.00 to $217.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Royal Bank of Canada upped their price target on Honeywell International from $211.00 to $226.00 and gave the company a “sector perform” rating in a report on Wednesday, April 30th. Wall Street Zen raised Honeywell International from a “hold” rating to a “buy” rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Honeywell International from $182.00 to $217.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $248.14.

Honeywell International 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.