Drive Wealth Management LLC Sells 2,184 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• Drive Wealth Management LLC reduced its stake in Honeywell International Inc. by 45.4% during the first quarter, now holding 2,625 shares worth $556,000.
• Analysts have issued positive ratings for Honeywell, with target prices raised by several firms, including Citigroup increasing it from $242.00 to $265.00.
• The company's recent quarterly earnings exceeded expectations, reporting an EPS of $2.75 and revenue of $10.35 billion, marking an 8.1% increase year-over-year.

Drive Wealth Management LLC lowered its stake in Honeywell International Inc. (NASDAQ:HON - Free Report) by 45.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,625 shares of the conglomerate's stock after selling 2,184 shares during the quarter. Drive Wealth Management LLC's holdings in Honeywell International were worth $556,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HON. World Investment Advisors raised its holdings in Honeywell International by 137.7% in the 4th quarter. World Investment Advisors now owns 22,387 shares of the conglomerate's stock valued at $5,057,000 after buying an additional 12,969 shares during the last quarter. Schroder Investment Management Group raised its holdings in Honeywell International by 12.7% in the 4th quarter. Schroder Investment Management Group now owns 89,297 shares of the conglomerate's stock valued at $20,235,000 after buying an additional 10,092 shares during the last quarter. Red Door Wealth Management LLC raised its holdings in Honeywell International by 2.6% in the 1st quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate's stock valued at $6,160,000 after buying an additional 736 shares during the last quarter. Potomac Fund Management Inc. ADV bought a new position in Honeywell International in the 4th quarter valued at approximately $1,722,000. Finally, Petros Family Wealth LLC bought a new position in Honeywell International in the 4th quarter valued at approximately $383,000. Institutional investors own 75.91% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on HON. Wells Fargo & Company decreased their target price on shares of Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a research report on Friday. Citigroup increased their target price on shares of Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. increased their target price on shares of Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Royal Bank Of Canada decreased 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 report on Friday. Finally, Wall Street Zen raised shares of Honeywell International from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Honeywell International currently has an average rating of "Moderate Buy" and an average target price of $252.00.

Honeywell International Stock Performance

Honeywell International stock traded down $0.24 during midday trading on Friday, reaching $224.24. The stock had a trading volume of 5,645,057 shares, compared to its average volume of 3,343,010. The company has a quick ratio of 0.95, a current ratio of 1.29 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $144.11 billion, a PE ratio of 25.51, a P/E/G ratio of 2.52 and a beta of 1.07. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77. The firm's 50-day moving average price is $229.41 and its 200 day moving average price is $216.97.

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

Honeywell International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.02%. Honeywell International's payout ratio is 51.95%.

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.