Meridian Wealth Advisors LLC Lowers Stock Position in Honeywell International Inc. $HON

Meridian Wealth Advisors LLC decreased its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 5.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,010 shares of the conglomerate’s stock after selling 397 shares during the period. Meridian Wealth Advisors LLC’s holdings in Honeywell International were worth $1,633,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Nuveen LLC acquired a new position in Honeywell International during the first quarter worth $1,150,929,000. Wellington Management Group LLP boosted its position in shares of Honeywell International by 8.9% during the 1st 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. grew its stake in shares of Honeywell International by 64.6% during the 1st 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 during the period. Vista Cima Wealth Management LLC purchased a new position in shares of Honeywell International in the 1st quarter valued at about $164,000. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Honeywell International in the 2nd quarter valued at about $140,816,000. 75.91% of the stock is owned by institutional investors and hedge funds.

Honeywell International Stock Performance

Shares of NASDAQ HON opened at $190.02 on Friday. The company has a 50-day simple moving average of $204.74 and a 200-day simple moving average of $217.32. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04. The company has a market cap of $120.64 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. Honeywell International Inc. has a 12 month low of $169.21 and a 12 month high of $228.04.

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. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business 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 analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current 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 given a $1.19 dividend. 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 dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International’s dividend payout ratio (DPR) is presently 50.16%.

Insider Activity at Honeywell International

In related 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 value of $9,339,375.42. Following the completion of the transaction, the chief executive officer directly owned 10,334 shares in the company, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on HON. Bank of America reissued an “underperform” rating and set a $205.00 price objective (down previously from $265.00) on shares of Honeywell International in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Morgan Stanley lowered their price target on Honeywell International from $245.00 to $235.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 28th. Citigroup lifted their price objective on Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Wells Fargo & Company lowered their target price on Honeywell International from $230.00 to $218.00 and set an “equal weight” rating on the stock in a report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $239.38.

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.