Capital Group Private Client Services Inc. Sells 100,353 Shares of Honeywell International Inc. $HON

Key Points

• Capital Group Private Client Services Inc. trimmed its stake in Honeywell by 74.8% in Q3, selling 100,353 shares and leaving 33,881 shares valued at about $7.13 million.
• Multiple analysts have recently raised ratings and price targets on Honeywell, leaving the consensus as a "Moderate Buy" with an average target of $251.22.
• Honeywell beat quarterly estimates with $2.59 EPS (vs. $2.54 expected) and $10.07B revenue, and announced a $1.19 quarterly dividend ($4.76 annual, ~2.0% yield; ex-dividend Feb 27).

Capital Group Private Client Services Inc. trimmed its position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 74.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,881 shares of the conglomerate's stock after selling 100,353 shares during the quarter. Capital Group Private Client Services Inc.'s holdings in Honeywell International were worth $7,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Lockheed Martin Investment Management Co. acquired a new stake in Honeywell International in the 3rd quarter valued at about $4,147,000. First National Trust Co lifted its position in shares of Honeywell International by 9.4% during the third quarter. First National Trust Co now owns 79,086 shares of the conglomerate's stock worth $16,648,000 after purchasing an additional 6,803 shares in the last quarter. Managed Asset Portfolios LLC grew its stake in shares of Honeywell International by 2.3% during the second quarter. Managed Asset Portfolios LLC now owns 95,833 shares of the conglomerate's stock valued at $22,317,000 after purchasing an additional 2,154 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Honeywell International by 72.5% during the third quarter. Federated Hermes Inc. now owns 9,663 shares of the conglomerate's stock valued at $2,034,000 after purchasing an additional 4,061 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of Honeywell International in the second quarter valued at approximately $1,943,000. Institutional investors and hedge funds own 75.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HON. Evercore boosted their price objective on shares of Honeywell International from $255.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. Royal Bank Of Canada lifted their target price on Honeywell International from $249.00 to $268.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. Wolfe Research raised Honeywell International from a "peer perform" rating to an "outperform" rating and set a $293.00 price target on the stock in a research note on Friday, February 27th. Wall Street Zen upgraded Honeywell International to a "hold" rating in a report on Saturday, January 3rd. Finally, Daiwa Securities Group lifted their price objective on Honeywell International from $230.00 to $240.00 in a research report on Tuesday, February 3rd. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $251.22.

Insider Activity

In other news, VP Robert D. Mailloux sold 10,549 shares of the business's stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $229.00, for a total transaction of $2,415,721.00. Following the completion of the transaction, the vice president directly owned 4,803 shares in the company, valued at approximately $1,099,887. The trade was a 68.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director D Scott Davis sold 2,367 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $240.00, for a total transaction of $568,080.00. Following the completion of the sale, the director owned 31,081 shares in the company, valued at $7,459,440. This represents a 7.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,190 shares of company stock valued at $4,244,287 over the last 90 days. Corporate insiders own 0.41% of the company's stock.

Honeywell International Price Performance

HON opened at $237.59 on Tuesday. The company has a fifty day moving average price of $226.47 and a two-hundred day moving average price of $211.85. The firm has a market capitalization of $151.03 billion, a PE ratio of 29.74, a P/E/G ratio of 3.41 and a beta of 0.92. Honeywell International Inc. has a 52 week low of $169.21 and a 52 week high of $248.18. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.30.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The conglomerate reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.54 by $0.05. Honeywell International had a return on equity of 40.64% and a net margin of 12.74%.The company had revenue of $10.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business posted $2.47 EPS. The firm's quarterly revenue was up 6.4% on a year-over-year basis. As a group, analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $1.19 per share. The ex-dividend date is Friday, February 27th. This represents a $4.76 dividend on an annualized basis and a yield of 2.0%. Honeywell International's dividend payout ratio (DPR) is 59.57%.

Honeywell International Profile

Honeywell International Inc is a diversified, publicly traded multinational conglomerate NASDAQ: HON that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell's aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.

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