AGF Management Ltd. Sells 7,135 Shares of 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. lowered its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 356,814 shares of the conglomerate's stock after selling 7,135 shares during the period. AGF Management Ltd. owned about 0.06% of Honeywell International worth $75,555,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Maia Wealth LLC boosted its holdings in Honeywell International by 4.1% during the 1st quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate's stock worth $238,000 after acquiring an additional 47 shares during the last quarter. Kirtland Hills Capital Management LLC grew its holdings in shares of Honeywell International by 1.1% during the first quarter. Kirtland Hills Capital Management LLC now owns 4,424 shares of the conglomerate's stock worth $870,000 after purchasing an additional 48 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in Honeywell International by 0.6% in the first quarter. Sound View Wealth Advisors Group LLC now owns 8,769 shares of the conglomerate's stock worth $1,857,000 after buying an additional 48 shares in the last quarter. Gateway Wealth Partners LLC boosted its stake in Honeywell International by 2.5% in the first quarter. Gateway Wealth Partners LLC now owns 2,044 shares of the conglomerate's stock worth $433,000 after buying an additional 49 shares in the last quarter. Finally, Cetera Trust Company N.A boosted its stake in shares of Honeywell International by 0.5% during the first quarter. Cetera Trust Company N.A now owns 10,475 shares of the conglomerate's stock valued at $2,218,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 75.91% of the company's stock.

Honeywell International Stock Down 0.7%

NASDAQ HON traded down $1.59 during trading on Friday, reaching $216.61. 1,243,246 shares of the company's stock traded hands, compared to its average volume of 4,068,528. The company's 50 day simple moving average is $227.96 and its two-hundred day simple moving average is $216.78. The firm has a market cap of $137.53 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 2.48 and a beta of 1.08. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.29 and a quick ratio of 0.97. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last released its earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.01 billion. During the same period in the prior year, the firm earned $2.49 earnings per share. The business's quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays raised their target price on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Mizuho raised their price target on Honeywell International from $235.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Morgan Stanley raised their price target on Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price target for the company in a report on Wednesday, May 7th. Finally, Wall Street Zen raised Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $254.00.

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.