Associated Banc Corp Reduces Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Associated Banc Corp reduced its stake in Honeywell International Inc. by 13.0%, owning 34,738 shares worth approximately $7.36 million after selling 5,174 shares in the first quarter.
• Honeywell reported a quarterly earnings per share (EPS) of $2.75, exceeding analysts' estimates and showing a year-over-year revenue growth of 8.1%.
• The company declared a quarterly dividend of $1.13 per share, resulting in an annualized dividend yield of 2.0% with a payout ratio of 51.42%.

Associated Banc Corp decreased its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 13.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,738 shares of the conglomerate's stock after selling 5,174 shares during the quarter. Associated Banc Corp's holdings in Honeywell International were worth $7,356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors purchased a new stake in Honeywell International in the 4th quarter valued at about $1,594,216,000. Capital Research Global Investors boosted its stake in shares of Honeywell International by 5.5% in the fourth quarter. Capital Research Global Investors now owns 6,641,017 shares of the conglomerate's stock valued at $1,500,141,000 after purchasing an additional 346,190 shares during the period. Northern Trust Corp boosted its stake in shares of Honeywell International by 5.7% in the 4th quarter. Northern Trust Corp now owns 6,253,570 shares of the conglomerate's stock valued at $1,412,619,000 after buying an additional 337,199 shares during the period. Invesco Ltd. grew its holdings in Honeywell International by 5.2% during the 4th quarter. Invesco Ltd. now owns 5,285,417 shares of the conglomerate's stock worth $1,193,923,000 after acquiring an additional 263,188 shares in the last quarter. Finally, Capital International Investors increased its holdings in Honeywell International by 8.3% in the fourth quarter. Capital International Investors now owns 2,230,845 shares of the conglomerate's stock valued at $503,966,000 after buying an additional 170,270 shares during the last quarter. Institutional investors and hedge funds own 75.91% of the company's stock.

Honeywell International Price Performance

Shares of HON stock traded down $1.83 during midday trading on Wednesday, reaching $219.23. 2,790,995 shares of the company traded hands, compared to its average volume of 3,732,723. The firm's 50 day simple moving average is $229.11 and its two-hundred day simple moving average is $217.04. The firm has a market cap of $139.19 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.49 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 1-year low of $179.36 and a 1-year high of $242.77.

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

Honeywell International Dividend Announcement

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

Analyst Upgrades and Downgrades

HON has been the topic of a number of research reports. 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 research note on Monday, July 28th. Wells Fargo & Company lowered their price target on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating on the stock in a report on Friday, July 25th. Barclays upped their price objective on Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada lowered their target price on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a research note on Friday, July 25th. Finally, Citigroup upped their price target on Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.00.

Honeywell International 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.