United Asset Strategies Inc. Lowers Stake in Honeywell International Inc. $HON

United Asset Strategies Inc. reduced its position in Honeywell International Inc. (NASDAQ:HON) by 45.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,796 shares of the conglomerate’s stock after selling 9,120 shares during the quarter. United Asset Strategies Inc.’s holdings in Honeywell International were worth $2,514,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Chung Wu Investment Group LLC bought a new stake in Honeywell International during the second quarter valued at about $26,000. RMG Wealth Management LLC acquired a new stake in shares of Honeywell International in the 2nd quarter worth $33,000. Activest Wealth Management boosted its position in shares of Honeywell International by 425.9% in the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Pandora Wealth Inc. purchased a new stake in shares of Honeywell International during the first quarter worth about $33,000. Finally, Dogwood Wealth Management LLC increased its holdings 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 acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Analysts Set New Price Targets

HON has been the subject of a number of research analyst reports. Citigroup raised their price target on shares of Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings downgraded Honeywell International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. HSBC cut their price target on shares of Honeywell International from $290.00 to $266.00 and set a “buy” rating on the stock in a report on Tuesday. Rothschild & Co Redburn cut their price objective on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Finally, Jefferies Financial Group lowered their price objective on Honeywell International from $230.00 to $220.00 in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Honeywell International has a consensus rating of “Moderate Buy” and an average target price of $247.50.

Honeywell International Stock Up 2.2%

NASDAQ HON opened at $200.41 on Wednesday. The business has a fifty day moving average price of $207.82 and a 200 day moving average price of $218.30. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36. The company has a market cap of $127.24 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.73 and a beta of 1.07. Honeywell International Inc. has a one year low of $179.36 and a one year high of $242.77.

Honeywell International (NASDAQ:HON) last released its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The business had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. 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 anticipate that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a $1.19 dividend. 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. The ex-dividend date is Friday, November 14th. Honeywell International’s dividend payout ratio (DPR) is currently 50.16%.

Insider Buying and Selling

In related news, CEO Lucian Boldea sold 42,149 shares of the firm’s 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 sale, the chief executive officer directly owned 10,334 shares in the company, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

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.