HighTower Advisors LLC Decreases Stock Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• HighTower Advisors LLC reduced its shares in Honeywell International by 20.3%, holding a total of 437,594 shares valued at approximately $92.66 million.
• Analysts have upgraded Honeywell's stock, with Bank of America setting a new price target of $250, while JPMorgan has raised its target from $182 to $217, indicating a shift in sentiment towards a potential buy rating.
• Honeywell International announced a quarterly dividend of $1.13 per share, with a dividend yield of 2.1%, demonstrating its commitment to returning value to shareholders.

HighTower Advisors LLC lowered its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 20.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 437,594 shares of the conglomerate's stock after selling 111,421 shares during the period. HighTower Advisors LLC owned 0.07% of Honeywell International worth $92,661,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings 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 worth $13,172,852,000 after purchasing an additional 447,744 shares during the period. Capital World Investors bought a new position in Honeywell International in the fourth quarter valued at $1,594,216,000. Capital Research Global Investors increased its stake in Honeywell International by 5.5% in the fourth quarter. Capital Research Global Investors now owns 6,641,017 shares of the conglomerate's stock valued at $1,500,141,000 after acquiring an additional 346,190 shares during the last quarter. Northern Trust Corp increased its stake in Honeywell International by 5.7% in the fourth quarter. Northern Trust Corp now owns 6,253,570 shares of the conglomerate's stock valued at $1,412,619,000 after acquiring an additional 337,199 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Honeywell International by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate's stock valued at $1,278,563,000 after acquiring an additional 505,083 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company's stock.

Honeywell International Stock Performance

NASDAQ:HON traded down $1.43 during trading hours on Friday, reaching $216.77. The company had a trading volume of 2,740,896 shares, compared to its average volume of 3,965,734. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77. The firm has a market cap of $137.63 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.45 and a beta of 1.08. The firm's 50 day moving average price is $227.72 and its 200-day moving average price is $216.72.

Honeywell International (NASDAQ:HON - Get Free Report) last issued its quarterly earnings data 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. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.01 billion. During the same quarter in the previous year, the firm posted $2.49 EPS. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Dividend Announcement

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

Analyst Upgrades and Downgrades

HON has been the topic of a number of research analyst reports. Wall Street Zen raised Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price objective on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada reduced their price objective on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a research note on Friday, July 25th. Morgan Stanley raised their price objective on Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Finally, Barclays raised their target price on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $254.00.

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.