Chevy Chase Trust Holdings LLC Cuts Stock Holdings in Honeywell International Inc. $HON

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in Honeywell International Inc. by 0.6%, now holding 342,412 shares valued at approximately $79.7 million.
• CEO Lucian Boldea sold 42,149 shares of Honeywell, marking an 80.31% decrease in his position, with shares sold at an average price of $221.58.
• Honeywell announced an increase in its quarterly dividend to $1.19, raising the annualized dividend to $4.76 with a yield of 2.3%.

Chevy Chase Trust Holdings LLC trimmed its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 342,412 shares of the conglomerate's stock after selling 2,161 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Honeywell International worth $79,741,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Arista Wealth Management LLC purchased a new position in Honeywell International during the second quarter valued at $1,283,000. Stratos Wealth Partners LTD. grew its stake in Honeywell International by 1.4% during the second quarter. Stratos Wealth Partners LTD. now owns 33,300 shares of the conglomerate's stock valued at $7,755,000 after acquiring an additional 444 shares in the last quarter. AssuredPartners Investment Advisors LLC grew its stake in Honeywell International by 9.8% during the second quarter. AssuredPartners Investment Advisors LLC now owns 17,926 shares of the conglomerate's stock valued at $4,175,000 after acquiring an additional 1,599 shares in the last quarter. Stratos Wealth Advisors LLC grew its stake in Honeywell International by 3.9% during the second quarter. Stratos Wealth Advisors LLC now owns 5,256 shares of the conglomerate's stock valued at $1,224,000 after acquiring an additional 198 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in Honeywell International by 2.5% during the second quarter. Private Trust Co. NA now owns 13,025 shares of the conglomerate's stock valued at $3,033,000 after acquiring an additional 322 shares in the last quarter. 75.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Lucian Boldea sold 42,149 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total value of $9,339,375.42. Following the completion of the sale, the chief executive officer owned 10,334 shares in the company, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on HON. Royal Bank Of Canada cut their target price on shares of Honeywell International from $254.00 to $253.00 and set a "sector perform" rating for the company in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Honeywell International from $268.00 to $271.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Honeywell International from $222.00 to $212.00 and set a "neutral" rating for the company in a research report on Wednesday. Barclays increased their price objective on shares of Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Honeywell International in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Honeywell International currently has a consensus rating of "Moderate Buy" and a consensus price target of $251.67.

Honeywell International Price Performance

Honeywell International stock opened at $203.17 on Friday. The firm has a 50-day moving average price of $212.90 and a 200-day moving average price of $216.98. The firm has a market capitalization of $128.99 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 2.28 and a beta of 1.06. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. 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 Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The firm had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. As a group, equities research analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a $1.19 dividend. This is a boost from Honeywell International's previous quarterly dividend of $1.13. The ex-dividend date is Friday, November 14th. This represents a $4.76 annualized dividend and a dividend yield of 2.3%. Honeywell International's dividend payout ratio (DPR) is 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.

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