Essex LLC Sells 2,842 Shares of Honeywell International Inc. $HON

Key Points

• Essex LLC reduced its stake in Honeywell International Inc. by 21.4%, selling 2,842 shares and holding a total of 10,466 shares valued at approximately $2.4 million.
• Honeywell International announced a quarterly dividend increase to $1.19 per share, with an annualized yield of 2.3%, to be paid on December 5th.
• Several hedge funds, including Brighton Jones LLC and Wealth Enhancement Advisory Services LLC, have recently increased their positions in Honeywell, indicating ongoing institutional interest in the company.

Essex LLC lessened its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 21.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,466 shares of the conglomerate's stock after selling 2,842 shares during the quarter. Essex LLC's holdings in Honeywell International were worth $2,437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Honeywell International by 9.1% in the 4th quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate's stock worth $4,302,000 after buying an additional 1,582 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Honeywell International by 9.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 334,145 shares of the conglomerate's stock worth $70,755,000 after acquiring an additional 29,504 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Honeywell International by 3.7% during the first quarter. Janney Montgomery Scott LLC now owns 296,890 shares of the conglomerate's stock worth $62,867,000 after acquiring an additional 10,536 shares in the last quarter. Sowell Financial Services LLC grew its holdings in Honeywell International by 12.0% in the first quarter. Sowell Financial Services LLC now owns 11,351 shares of the conglomerate's stock worth $2,404,000 after purchasing an additional 1,220 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of Honeywell International by 1.2% during the first quarter. QRG Capital Management Inc. now owns 74,916 shares of the conglomerate's stock valued at $15,864,000 after purchasing an additional 864 shares in the last quarter. 75.91% of the stock is owned by hedge funds and other institutional investors.

Honeywell International Trading Up 2.8%

NASDAQ:HON opened at $208.61 on Wednesday. The company has a market cap of $132.45 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 2.27 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. The company has a 50 day simple moving average of $213.50 and a two-hundred day simple moving average of $217.14. 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 posted its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%.The company had revenue of $8.95 billion during 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. Research analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a dividend of $1.19 per share. This is an increase from Honeywell International's previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International's dividend payout ratio is currently 54.15%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HON shares. Robert W. Baird dropped their price target on Honeywell International from $250.00 to $220.00 and set a "neutral" rating on the stock in a research report on Monday. Wells Fargo & Company dropped their target price on Honeywell International from $230.00 to $220.00 and set an "equal weight" rating on the stock in a report on Monday, October 6th. Barclays raised their price target on Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Jefferies Financial Group lowered their price target on Honeywell International from $240.00 to $230.00 and set a "hold" rating for the company in a research report on Tuesday, October 7th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Honeywell International in a research report on Wednesday, October 8th. One equities 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $252.00.

Insiders Place Their Bets

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 owned 10,334 shares in the company, valued at $2,289,807.72. This trade represents a 80.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.41% of the company's stock.

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.

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