Gulf International Bank UK Ltd Sells 14,371 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Honeywell International Inc. by 27.9%, selling 14,371 shares in the first quarter, leaving it with 37,107 shares valued at approximately $7.86 million.
• Honeywell reported a quarterly EPS of $2.75, exceeding estimates and showing an 8.1% increase in revenue year-over-year, amounting to $10.35 billion.
• The company declared a quarterly dividend of $1.13 per share, resulting in an annual yield of 2.1%, with a current payout ratio of 51.42%.

Gulf International Bank UK Ltd cut its holdings in Honeywell International Inc. (NASDAQ:HON - Free Report) by 27.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,107 shares of the conglomerate's stock after selling 14,371 shares during the period. Gulf International Bank UK Ltd's holdings in Honeywell International were worth $7,857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Maia Wealth LLC increased its position in Honeywell International by 4.1% in the 1st quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate's stock valued at $238,000 after buying an additional 47 shares in the last quarter. Kirtland Hills Capital Management LLC increased its position in Honeywell International by 1.1% in the 1st quarter. Kirtland Hills Capital Management LLC now owns 4,424 shares of the conglomerate's stock valued at $870,000 after buying an additional 48 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its holdings in Honeywell International by 0.6% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 8,769 shares of the conglomerate's stock worth $1,857,000 after purchasing an additional 48 shares in the last quarter. Gateway Wealth Partners LLC increased its holdings in Honeywell International by 2.5% during the 1st quarter. Gateway Wealth Partners LLC now owns 2,044 shares of the conglomerate's stock worth $433,000 after purchasing an additional 49 shares in the last quarter. Finally, Cetera Trust Company N.A increased its holdings in Honeywell International by 0.5% during the 1st quarter. Cetera Trust Company N.A now owns 10,475 shares of the conglomerate's stock worth $2,218,000 after purchasing an additional 50 shares in the last quarter. 75.91% of the stock is owned by institutional investors.

Honeywell International Price Performance

Honeywell International stock opened at $217.01 on Wednesday. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77. 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 business's 50 day simple moving average is $228.28 and its 200 day simple moving average is $216.81. The company has a market cap of $137.78 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.44 and a beta of 1.08.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.01 billion. During the same quarter in the prior year, the business earned $2.49 earnings per share. Honeywell International's revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Announces Dividend

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 paid a $1.13 dividend. The ex-dividend date is Friday, August 15th. This represents a $4.52 annualized dividend and a yield of 2.1%. Honeywell International's dividend payout ratio is presently 51.42%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays boosted their price objective on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. 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. Wall Street Zen raised Honeywell International from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Wells Fargo & Company decreased their price objective on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a report on Friday, July 25th. Finally, Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price objective for the company in a report on Wednesday, May 7th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Honeywell International currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.00.

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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