Gamco Investors INC. ET AL Sells 9,025 Shares of Honeywell International Inc. $HON

Key Points

• Gamco Investors INC. reduced its stake in Honeywell International Inc. by 4.2% during the 1st quarter, owning 208,304 shares worth approximately $44.11 million.
• Honeywell reported a Q2 EPS of $2.75, surpassing estimates, with revenue reaching $10.35 billion, marking an 8.1% year-over-year increase.
• The company announced a quarterly dividend of $1.13 per share, which will be paid on September 5th, reflecting an annualized yield of 2.0%.

Gamco Investors INC. ET AL cut its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,304 shares of the conglomerate's stock after selling 9,025 shares during the quarter. Gamco Investors INC. ET AL's holdings in Honeywell International were worth $44,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Honeywell International by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,209,455 shares of the conglomerate's stock valued at $13,172,852,000 after buying an additional 447,744 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Honeywell International by 8.9% in the first quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate's stock valued at $3,335,476,000 after buying an additional 1,293,137 shares in the last quarter. Northern Trust Corp boosted its position in Honeywell International by 5.7% during the fourth quarter. Northern Trust Corp now owns 6,253,570 shares of the conglomerate's stock worth $1,412,619,000 after purchasing an additional 337,199 shares during the period. Goldman Sachs Group Inc. boosted its position in Honeywell International by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate's stock worth $1,278,563,000 after purchasing an additional 505,083 shares during the period. Finally, Invesco Ltd. boosted its position in Honeywell International by 5.4% during the first quarter. Invesco Ltd. now owns 5,568,610 shares of the conglomerate's stock worth $1,179,153,000 after purchasing an additional 283,193 shares during the period. 75.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on HON. JPMorgan Chase & Co. lifted their price objective on shares of Honeywell International from $182.00 to $217.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Morgan Stanley lifted their price objective on shares of Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Citigroup lifted their price objective on shares of Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Honeywell International from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company reduced their price objective 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, July 25th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Honeywell International presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.00.

Honeywell International Stock Performance

Shares of Honeywell International stock traded down $1.85 during trading on Friday, reaching $219.50. The company's stock had a trading volume of 1,991,059 shares, compared to its average volume of 3,115,309. The business's 50-day moving average price is $226.81 and its 200-day moving average price is $217.03. The firm has a market cap of $139.36 billion, a PE ratio of 24.97, a P/E/G ratio of 2.48 and a beta of 1.08. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81.

Honeywell International (NASDAQ:HON - Get Free Report) last announced its earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.09. The company had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.01 billion. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. Honeywell International's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.49 earnings per share. Honeywell International has set its FY 2025 guidance at 10.450-10.650 EPS. Q3 2025 guidance at 2.500-2.600 EPS. Equities analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be given a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.52 annualized dividend and a yield of 2.1%. Honeywell International's dividend payout ratio is currently 51.42%.

Insiders Place Their Bets

In related news, CEO Lucian Boldea sold 42,149 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 10,334 shares of the company's stock, valued at $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.