Eastern Bank Has $15.50 Million Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Eastern Bank has reduced its stake in Honeywell International Inc. by 65.5%, resulting in ownership of 73,210 shares valued at approximately $15.5 million.
• In its latest earnings report, Honeywell exceeded expectations with earnings per share of $2.75, against a consensus estimate of $2.66, and reported an 8.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.13 per share, which will be paid out on September 5th, yielding an annualized dividend of 2.04%.

Eastern Bank reduced its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 65.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,210 shares of the conglomerate's stock after selling 138,771 shares during the quarter. Eastern Bank's holdings in Honeywell International were worth $15,502,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HON. Capital World Investors bought a new stake in shares of Honeywell International during the fourth quarter worth $1,594,216,000. GAMMA Investing LLC lifted its position in Honeywell International by 20,894.0% during the 1st quarter. GAMMA Investing LLC now owns 1,326,614 shares of the conglomerate's stock worth $2,809,110,000 after buying an additional 1,320,295 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Honeywell International by 592.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate's stock worth $183,728,000 after acquiring an additional 742,281 shares during the last quarter. Demars Financial Group LLC acquired a new stake in Honeywell International in the 4th quarter valued at about $155,407,000. Finally, Geode Capital Management LLC increased its position in Honeywell International by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 14,988,152 shares of the conglomerate's stock valued at $3,379,568,000 after acquiring an additional 627,422 shares in the last quarter. 75.91% of the stock is owned by institutional investors.

Honeywell International Stock Down 1.9%

Shares of HON traded down $4.14 during midday trading on Friday, hitting $218.21. The stock had a trading volume of 637,762 shares, compared to its average volume of 4,123,803. The firm has a market cap of $138.54 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The company has a 50 day simple moving average of $229.33 and a two-hundred day simple moving average of $217.08. Honeywell International Inc. has a twelve month low of $179.36 and a twelve month high of $242.77. 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 (NASDAQ:HON - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.01 billion. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The business's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.49 EPS. On average, analysts anticipate that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.52 annualized dividend and a dividend yield of 2.1%. Honeywell International's dividend payout ratio (DPR) is currently 51.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen raised shares of Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Royal Bank Of Canada decreased their price objective on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a research report on Friday, July 25th. Barclays boosted their target price on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Morgan Stanley raised their price target on Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Citigroup boosted their price objective on Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Honeywell International has a consensus rating of "Moderate Buy" and a consensus price target of $254.00.

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.