Elevation Point Wealth Partners LLC Lowers Stock Position in Honeywell International Inc. (NASDAQ:HON)

Elevation Point Wealth Partners LLC cut its holdings in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 16.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,915 shares of the conglomerate's stock after selling 1,199 shares during the period. Elevation Point Wealth Partners LLC's holdings in Honeywell International were worth $1,252,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HON. Mainstream Capital Management LLC acquired a new stake in shares of Honeywell International during the fourth quarter worth $25,000. Avalon Trust Co raised its position in Honeywell International by 166.7% in the fourth quarter. Avalon Trust Co now owns 120 shares of the conglomerate's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Honeywell International in the fourth quarter worth $29,000. Accredited Wealth Management LLC purchased a new position in Honeywell International in the fourth quarter worth $34,000. Finally, Curio Wealth LLC purchased a new position in Honeywell International in the fourth quarter worth $35,000. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Honeywell International Trading Down 0.8%

Honeywell International stock opened at $224.29 on Friday. The stock has a market cap of $144.15 billion, a PE ratio of 25.75, a P/E/G ratio of 2.51 and a beta of 1.08. The stock has a 50-day moving average price of $213.35 and a 200 day moving average price of $216.03. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77. The company has a current ratio of 1.31, a quick ratio of 1.01 and a debt-to-equity ratio of 1.33.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The conglomerate reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.30. The firm had revenue of $9.82 billion during the quarter, compared to analysts' expectations of $9.59 billion. Honeywell International had a return on equity of 35.78% and a net margin of 14.82%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 EPS. Equities 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 declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Friday, May 16th. Honeywell International's payout ratio is 51.95%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HON. Citigroup increased their price objective on Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Barclays cut their price objective on Honeywell International from $247.00 to $243.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Mizuho increased their price objective on Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Wells Fargo & Company raised their price target on Honeywell International from $205.00 to $225.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Bank of America upgraded Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price target for the company in a research report on Wednesday, May 7th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $248.14.

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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