Drive Wealth Management LLC Lowers Stock Holdings in Honeywell International Inc. (NASDAQ:HON)

Drive Wealth Management LLC decreased its position in shares of Honeywell International Inc. (NASDAQ:HON) by 45.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,625 shares of the conglomerate’s stock after selling 2,184 shares during the period. Drive Wealth Management LLC’s holdings in Honeywell International were worth $556,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC purchased a new position in shares of Honeywell International in the fourth quarter worth about $29,000. Accredited Wealth Management LLC bought a new stake in shares of Honeywell International in the fourth quarter worth about $34,000. Alexis Investment Partners LLC bought a new stake in shares of Honeywell International in the fourth quarter worth about $37,000. Banque de Luxembourg S.A. bought a new stake in shares of Honeywell International in the fourth quarter worth about $38,000. Finally, Garde Capital Inc. bought a new stake in shares of Honeywell International in the first quarter worth about $42,000. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup raised their target price on Honeywell International from $242.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $226.00 target price on shares of Honeywell International in a research note on Wednesday, June 25th. Wells Fargo & Company raised their target price on Honeywell International from $225.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. raised their target price on Honeywell International from $182.00 to $217.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, Wall Street Zen raised Honeywell International from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Honeywell International has an average rating of “Moderate Buy” and an average target price of $250.79.

Honeywell International Stock Performance

Shares of HON opened at $224.48 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 1.43. The business’s 50 day moving average price is $229.39 and its 200-day moving average price is $216.96. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77. The stock has a market cap of $144.27 billion, a P/E ratio of 25.80, a P/E/G ratio of 2.72 and a beta of 1.07.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings results on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Honeywell International had a return on equity of 36.19% and a net margin of 14.51%. The firm had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.01 billion. During the same period in the previous year, the firm posted $2.49 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were issued a $1.13 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.52 dividend on an annualized basis and a yield of 2.01%. Honeywell International’s payout ratio is currently 51.95%.

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.