Griffin Asset Management Inc. Reduces Stock Position in Honeywell International Inc. $HON

Griffin Asset Management Inc. lowered its stake in Honeywell International Inc. (NASDAQ:HON) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,344 shares of the conglomerate’s stock after selling 563 shares during the quarter. Honeywell International accounts for 1.3% of Griffin Asset Management Inc.’s portfolio, making the stock its 22nd largest position. Griffin Asset Management Inc.’s holdings in Honeywell International were worth $11,258,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BankPlus Wealth Management LLC raised its position in shares of Honeywell International by 2.2% during the 2nd quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate’s stock valued at $463,000 after purchasing an additional 43 shares during the period. Maia Wealth LLC raised its position in shares of Honeywell International by 4.1% during the 1st quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate’s stock valued at $238,000 after purchasing an additional 47 shares during the period. Bar Harbor Wealth Management raised its position in shares of Honeywell International by 0.3% during the 2nd quarter. Bar Harbor Wealth Management now owns 15,192 shares of the conglomerate’s stock valued at $3,538,000 after purchasing an additional 47 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of Honeywell International by 1.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,696 shares of the conglomerate’s stock valued at $628,000 after purchasing an additional 47 shares during the period. Finally, Kirtland Hills Capital Management LLC raised its position in shares of Honeywell International by 1.1% during the 1st quarter. Kirtland Hills Capital Management LLC now owns 4,424 shares of the conglomerate’s stock valued at $870,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the transaction, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. The trade was a 80.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Honeywell International Stock Performance

Honeywell International stock opened at $200.91 on Monday. The company’s 50-day moving average price is $214.11 and its 200-day moving average price is $217.25. Honeywell International Inc. has a twelve month low of $179.36 and a twelve month high of $242.77. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81. The company has a market cap of $127.56 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.25 and a beta of 1.06.

Honeywell International (NASDAQ:HON) last posted its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. 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. On average, equities research analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s dividend payout ratio is presently 51.42%.

Analysts Set New Price Targets

A number of brokerages have issued reports on HON. Weiss Ratings reiterated a “buy (b-)” rating on shares of Honeywell International in a report on Wednesday, October 8th. TD Cowen reduced their price target on shares of Honeywell International from $260.00 to $250.00 in a report on Tuesday, October 7th. Jefferies Financial Group reduced their price target on shares of Honeywell International from $240.00 to $230.00 and set a “hold” rating on the stock in a report on Tuesday, October 7th. Wells Fargo & Company reduced their price target on shares of Honeywell International from $230.00 to $220.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. Finally, Royal Bank Of Canada reduced their price target on shares of Honeywell International from $254.00 to $253.00 and set a “sector perform” rating on the stock in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $251.80.

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.