Eastern Bank Has $13.98 Million Stake in Honeywell International Inc. $HON

Key Points

• Eastern Bank has reduced its stake in Honeywell International by 18%, now holding shares valued at approximately $13.98 million following the sale of over 13,000 shares in the second quarter.
• Analysts have varied opinions on Honeywell's stock, with price targets ranging from $220 to $271, and an average rating of "Moderate Buy."
• Honeywell International recently declared an increase in its quarterly dividend to $1.19 per share, reflecting a commitment to returning value to shareholders amid solid financial performance.

Eastern Bank decreased its position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 18.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,042 shares of the conglomerate's stock after selling 13,168 shares during the period. Eastern Bank's holdings in Honeywell International were worth $13,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. BankPlus Wealth Management LLC increased its holdings in shares of Honeywell International by 2.2% during the second quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate's stock worth $463,000 after buying an additional 43 shares in the last quarter. Maia Wealth LLC increased its holdings in shares of Honeywell International by 4.1% during the first quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate's stock worth $238,000 after buying an additional 47 shares in the last quarter. Bar Harbor Wealth Management increased its holdings in shares of Honeywell International by 0.3% during the second quarter. Bar Harbor Wealth Management now owns 15,192 shares of the conglomerate's stock worth $3,538,000 after buying an additional 47 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Honeywell International by 1.8% during the second quarter. Capital Advisors Ltd. LLC now owns 2,696 shares of the conglomerate's stock worth $628,000 after buying an additional 47 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC grew its stake 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 valued at $870,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 75.91% of the company's stock.

Analysts Set New Price Targets

HON has been the subject of a number of research reports. Barclays raised their price target on shares of Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Honeywell International from $268.00 to $271.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Wells Fargo & Company lowered their price target on shares of Honeywell International from $230.00 to $220.00 and set an "equal weight" rating for the company in a report on Monday, October 6th. TD Cowen lowered their price target on shares of Honeywell International from $260.00 to $250.00 in a report on Tuesday. Finally, Jefferies Financial Group lowered their price target on shares of Honeywell International from $240.00 to $230.00 and set a "hold" rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $251.80.

Insider Buying and Selling at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the transaction, the chief executive officer directly owned 10,334 shares of the company's stock, valued at $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Honeywell International Price Performance

Shares of HON stock opened at $200.91 on Friday. Honeywell International Inc. has a 52-week low of $179.36 and a 52-week high of $242.77. The stock has a market cap of $127.56 billion, a PE ratio of 22.86, a PEG ratio of 2.28 and a beta of 1.06. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29. The firm's 50 day moving average price is $214.11 and its two-hundred day moving average price is $217.20.

Honeywell International (NASDAQ:HON - Get Free Report) last announced its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The firm had revenue of $8.95 billion for the quarter. 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, analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a dividend of $1.19 per share. This is a positive change from Honeywell International's previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International's payout ratio is 51.42%.

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.

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