Brookstone Capital Management Trims Position in Honeywell International Inc. $HON

Brookstone Capital Management trimmed its holdings in Honeywell International Inc. (NASDAQ:HON) by 22.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,168 shares of the conglomerate’s stock after selling 4,742 shares during the period. Brookstone Capital Management’s holdings in Honeywell International were worth $3,765,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HON. Nuveen LLC purchased a new stake in shares of Honeywell International in the first quarter valued at about $1,150,929,000. Wellington Management Group LLP raised its holdings in Honeywell International by 8.9% during the first quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock worth $3,335,476,000 after purchasing an additional 1,293,137 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Honeywell International by 64.6% during the first quarter. Alliancebernstein L.P. now owns 2,652,344 shares of the conglomerate’s stock worth $561,634,000 after purchasing an additional 1,041,273 shares in the last quarter. Vista Cima Wealth Management LLC purchased a new position in Honeywell International during the first quarter worth about $164,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Honeywell International by 592.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate’s stock worth $183,728,000 after purchasing an additional 742,281 shares in the last quarter. 75.91% of the stock is owned by hedge funds and other institutional investors.

Honeywell International Trading Up 6.8%

Shares of Honeywell International stock opened at $220.67 on Friday. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. The stock has a market cap of $140.10 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.56 and a beta of 1.06. The company has a 50-day moving average of $212.05 and a two-hundred day moving average of $217.19.

Honeywell International (NASDAQ:HON) last issued its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The company had revenue of $8.95 billion during 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, research analysts anticipate that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.19 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. 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 2.2%. Honeywell International’s dividend payout ratio is 54.15%.

Insider Buying and Selling at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction that occurred on 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 $2,289,807.72. This trade represents a 80.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HON shares. JPMorgan Chase & Co. cut their price target on shares of Honeywell International from $222.00 to $212.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Honeywell International from $268.00 to $271.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. TD Cowen cut their price target on shares of Honeywell International from $260.00 to $250.00 in a report on Tuesday, October 7th. Jefferies Financial Group cut their price target on shares of Honeywell International from $240.00 to $230.00 and set a “hold” rating for the company in a report on Tuesday, October 7th. Finally, Morgan Stanley increased their target price on shares of Honeywell International from $225.00 to $245.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.67.

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.