Hartford Financial Management Inc. Trims Holdings in Honeywell International Inc. $HON

Key Points

• Hartford Financial Management Inc. reduced its holdings in Honeywell International by 49.0%, owning 14,227 shares valued at approximately $3.31 million after selling 13,652 shares in the second quarter.
• Analysts have mixed forecasts for Honeywell, with price targets ranging from $220.00 to $267.00, while the stock currently holds a consensus rating of "Moderate Buy" with an average target price of $251.60.
• Honeywell announced an increase in its quarterly dividend from $1.13 to $1.19 per share, with the new amount representing a 2.2% dividend yield.

Hartford Financial Management Inc. lowered its holdings in Honeywell International Inc. (NASDAQ:HON - Free Report) by 49.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,227 shares of the conglomerate's stock after selling 13,652 shares during the quarter. Hartford Financial Management Inc.'s holdings in Honeywell International were worth $3,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HON. Red Door Wealth Management LLC raised its holdings in Honeywell International by 2.6% in the 1st quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate's stock worth $6,160,000 after purchasing an additional 736 shares in the last quarter. Amundi lifted its holdings in Honeywell International by 30.2% in the first quarter. Amundi now owns 519,882 shares of the conglomerate's stock worth $107,450,000 after buying an additional 120,706 shares during the period. Triton Financial Group Inc bought a new stake in Honeywell International during the 2nd quarter valued at approximately $1,001,000. Spinnaker Trust raised its position in shares of Honeywell International by 2.4% in the 1st quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate's stock worth $2,456,000 after acquiring an additional 276 shares in the last quarter. Finally, Baxter Bros Inc. lifted its stake in shares of Honeywell International by 14.6% in the 2nd quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate's stock valued at $8,321,000 after purchasing an additional 4,543 shares during the period. Institutional investors own 75.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HON shares. Robert W. Baird decreased their price objective on Honeywell International from $250.00 to $220.00 and set a "neutral" rating for the company in a report on Monday, October 13th. Citigroup increased their price target on shares of Honeywell International from $265.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday. Royal Bank Of Canada decreased their target price on shares of Honeywell International from $253.00 to $235.00 and set a "sector perform" rating for the company in a research note on Friday. Weiss Ratings restated a "buy (b-)" rating on shares of Honeywell International in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their target price on Honeywell International from $220.00 to $230.00 in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $251.60.

Honeywell International Stock Performance

Shares of HON opened at $216.14 on Friday. The business has a fifty day moving average of $212.04 and a 200 day moving average of $217.42. The firm has a market capitalization of $137.23 billion, a P/E ratio of 22.78, a PEG ratio of 2.70 and a beta of 1.06. Honeywell International Inc. has a one year low of $179.36 and a one year high of $242.77. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 0.97.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The business had revenue of $8.95 billion for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. As a group, sell-side analysts anticipate that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a dividend of $1.19 per share. The ex-dividend date is Friday, November 14th. This is an increase from Honeywell International's previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a dividend yield of 2.2%. Honeywell International's dividend payout ratio (DPR) is 51.42%.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the company's 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 completion of the transaction, the chief executive officer owned 10,334 shares in the company, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.

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.

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