Tectonic Advisors LLC Cuts Holdings in Honeywell International Inc. $HON

Tectonic Advisors LLC lowered its position in Honeywell International Inc. (NASDAQ:HON) by 5.9% during the second quarter, HoldingsChannel.com reports. The fund owned 2,665 shares of the conglomerate’s stock after selling 168 shares during the quarter. Tectonic Advisors LLC’s holdings in Honeywell International were worth $621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Chung Wu Investment Group LLC acquired a new stake in shares of Honeywell International in the 2nd quarter worth approximately $26,000. RMG Wealth Management LLC acquired a new stake in Honeywell International during the 2nd quarter valued at $33,000. Pandora Wealth Inc. purchased a new position in Honeywell International during the first quarter worth $33,000. Dogwood Wealth Management LLC increased its position in Honeywell International by 143.9% during the second quarter. Dogwood Wealth Management LLC now owns 161 shares of the conglomerate’s stock worth $39,000 after buying an additional 95 shares in the last quarter. Finally, 1248 Management LLC purchased a new position in Honeywell International during the first quarter worth $38,000. Institutional investors and hedge funds own 75.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HON. TD Cowen dropped their price target on Honeywell International from $260.00 to $250.00 in a research report on Tuesday. Barclays raised their price target on Honeywell International from $258.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Jefferies Financial Group dropped their price target on Honeywell International from $240.00 to $230.00 and set a “hold” rating for the company in a research report on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Honeywell International in a research report on Wednesday. Finally, Wells Fargo & Company dropped their price target on Honeywell International from $230.00 to $220.00 and set an “equal weight” rating for the company in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Honeywell International currently has an average rating of “Moderate Buy” and an average target price of $251.80.

Insiders Place Their Bets

In related news, CEO Lucian Boldea sold 42,149 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at $2,289,807.72. The trade was a 80.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Honeywell International Trading Down 2.7%

NASDAQ:HON opened at $204.23 on Friday. The business’s 50-day moving average is $214.45 and its two-hundred day moving average is $217.28. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.29 and a quick ratio of 0.97. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77. The firm has a market capitalization of $129.67 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 2.35 and a beta of 1.06.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%.The company 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. 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 disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be issued a $1.19 dividend. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International’s dividend payout ratio is presently 51.42%.

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.