Patten Group Inc. Sells 403 Shares of Honeywell International Inc. $HON

Patten Group Inc. reduced its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,732 shares of the conglomerate’s stock after selling 403 shares during the quarter. Patten Group Inc.’s holdings in Honeywell International were worth $2,266,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC bought a new position in shares of Honeywell International during the second quarter valued at approximately $26,000. RMG Wealth Management LLC bought a new position in shares of Honeywell International during the second quarter valued at approximately $33,000. Activest Wealth Management grew its stake in shares of Honeywell International by 425.9% during the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Pandora Wealth Inc. bought a new position in shares of Honeywell International during the first quarter valued at approximately $33,000. Finally, Dogwood Wealth Management LLC grew its stake in shares of Honeywell International by 143.9% during the second quarter. Dogwood Wealth Management LLC now owns 161 shares of the conglomerate’s stock valued at $39,000 after buying an additional 95 shares during the last quarter. 75.91% of the stock is owned by institutional investors.

Honeywell International Stock Up 1.5%

Shares of NASDAQ:HON opened at $209.08 on Wednesday. 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 $132.74 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 2.56 and a beta of 1.06. The business’s 50 day moving average is $212.27 and its 200 day moving average is $217.03. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The company had revenue of $8.95 billion for the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. Sell-side analysts predict that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a dividend of $1.19 per share. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, November 14th. Honeywell International’s dividend payout ratio (DPR) is currently 51.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. TD Cowen cut their target price on Honeywell International from $260.00 to $250.00 in a research note on Tuesday, October 7th. Morgan Stanley upped their target price on Honeywell International from $225.00 to $245.00 and gave the company an “equal weight” rating in a research note on Monday, July 28th. Robert W. Baird cut their target price on Honeywell International from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Deutsche Bank Aktiengesellschaft upped their target price on Honeywell International from $268.00 to $271.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Honeywell International in a research note on Wednesday, October 8th. One equities 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.67.

Insiders Place Their Bets

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the sale, the chief executive officer owned 10,334 shares in the company, valued at $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is currently owned by corporate insiders.

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.