AGF Management Ltd. Lowers Holdings in Honeywell International Inc. (NASDAQ:HON)

Key Points

• AGF Management Ltd. holds $75.56 million worth of Honeywell International shares after a 2.0% decrease in its stock position during the first quarter.
• Honeywell International reported $10.35 billion in revenue and a net margin of 14.30% for the most recent quarter, exceeding analyst expectations.
• The company declared a $1.13 quarterly dividend, resulting in an annualized yield of 2.1%, with a payout ratio of approximately 51.42%.

AGF Management Ltd. reduced its position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 356,814 shares of the conglomerate's stock after selling 7,135 shares during the quarter. AGF Management Ltd. owned 0.06% of Honeywell International worth $75,555,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in Honeywell International by 9.1% in the 4th quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate's stock worth $4,302,000 after acquiring an additional 1,582 shares during the last quarter. Federated Hermes Inc. increased its stake in Honeywell International by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 6,028 shares of the conglomerate's stock worth $1,362,000 after acquiring an additional 253 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in Honeywell International in the 4th quarter worth approximately $3,287,000. Covestor Ltd increased its stake in Honeywell International by 17.7% in the 4th quarter. Covestor Ltd now owns 511 shares of the conglomerate's stock worth $116,000 after acquiring an additional 77 shares during the last quarter. Finally, Crux Wealth Advisors bought a new stake in Honeywell International in the 4th quarter worth approximately $315,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HON has been the topic of a number of research reports. Mizuho lifted their price objective on Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 target price on the stock in a research report on Wednesday, May 7th. Wall Street Zen raised Honeywell International from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Citigroup boosted their target price on Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. boosted their target price on Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Honeywell International presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.00.

Honeywell International Trading Up 0.3%

Honeywell International stock traded up $0.56 during mid-day trading on Tuesday, hitting $217.01. The company's stock had a trading volume of 4,340,984 shares, compared to its average volume of 3,802,513. The company has a 50 day moving average of $228.28 and a 200-day moving average of $216.81. The stock has a market cap of $137.78 billion, a PE ratio of 24.69, a P/E/G ratio of 2.44 and a beta of 1.08. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29. Honeywell International Inc. has a one year low of $179.36 and a one year high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.01 billion. During the same quarter in the prior year, the company posted $2.49 EPS. Honeywell International's quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts anticipate that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, August 15th. Honeywell International's dividend payout ratio is currently 51.42%.

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.