Honeywell International Inc. $HON Shares Sold by Comerica Bank

Key Points

• Comerica Bank trimmed its stake in Honeywell by 8.0%, selling 18,728 shares and leaving it with 216,487 shares valued at about $45.57 million at the end of the quarter; institutional investors own roughly 75.9% of the company.
• Insiders have been net sellers: VP Robert D. Mailloux sold 10,549 shares at about $229 and Director D. Scott Davis sold 2,367 shares at $240, with insiders disposing of 18,190 shares (~$4.24M) in the last three months and now holding 0.20% of the stock.
• Analyst sentiment and recent results: Honeywell has a "Moderate Buy" consensus target of $251.65 with several upgrades, and recently beat quarterly EPS estimates ($2.59 vs. $2.54) on $10.07B revenue while paying a $1.19 quarterly dividend (2.0% yield).

Comerica Bank decreased its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 8.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 216,487 shares of the conglomerate's stock after selling 18,728 shares during the period. Comerica Bank's holdings in Honeywell International were worth $45,570,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HON. First National Trust Co increased its holdings in Honeywell International by 9.4% in the 3rd quarter. First National Trust Co now owns 79,086 shares of the conglomerate's stock worth $16,648,000 after acquiring an additional 6,803 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new position in Honeywell International during the third quarter valued at $4,147,000. Managed Asset Portfolios LLC grew its position in shares of Honeywell International by 2.3% in the second quarter. Managed Asset Portfolios LLC now owns 95,833 shares of the conglomerate's stock valued at $22,317,000 after purchasing an additional 2,154 shares during the period. Federated Hermes Inc. grew its position in shares of Honeywell International by 72.5% in the third quarter. Federated Hermes Inc. now owns 9,663 shares of the conglomerate's stock valued at $2,034,000 after purchasing an additional 4,061 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in shares of Honeywell International during the second quarter worth about $1,943,000. Institutional investors and hedge funds own 75.91% of the company's stock.

Insiders Place Their Bets

In other Honeywell International news, VP Robert D. Mailloux sold 10,549 shares of the firm's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $229.00, for a total value of $2,415,721.00. Following the completion of the sale, the vice president directly owned 4,803 shares of the company's stock, valued at $1,099,887. This trade represents a 68.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director D Scott Davis sold 2,367 shares of Honeywell International stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $240.00, for a total value of $568,080.00. Following the transaction, the director owned 31,081 shares in the company, valued at approximately $7,459,440. This represents a 7.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,190 shares of company stock worth $4,244,287 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HON has been the subject of several research analyst reports. Wolfe Research upgraded shares of Honeywell International from a "peer perform" rating to an "outperform" rating and set a $293.00 price target for the company in a research report on Friday, February 27th. Sanford C. Bernstein set a $255.00 price objective on Honeywell International in a research note on Friday, January 16th. BNP Paribas Exane increased their target price on Honeywell International from $195.00 to $215.00 and gave the company a "neutral" rating in a report on Monday, February 2nd. Evercore raised their target price on Honeywell International from $255.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. Finally, DZ Bank lowered their price target on Honeywell International from $248.00 to $237.00 in a research note on Tuesday, December 23rd. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $251.65.

Honeywell International Stock Performance

NASDAQ:HON opened at $234.50 on Friday. The company has a market cap of $149.07 billion, a P/E ratio of 29.35, a P/E/G ratio of 3.38 and a beta of 0.92. Honeywell International Inc. has a twelve month low of $169.21 and a twelve month high of $248.18. The company's 50-day moving average price is $229.78 and its 200-day moving average price is $212.41. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81.

Honeywell International (NASDAQ:HON - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The conglomerate reported $2.59 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.05. Honeywell International had a net margin of 12.74% and a return on equity of 40.64%. The company had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $2.47 EPS. Honeywell International's quarterly revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $1.19 per share. The ex-dividend date was Friday, February 27th. This represents a $4.76 dividend on an annualized basis and a yield of 2.0%. Honeywell International's dividend payout ratio (DPR) is presently 59.57%.

About Honeywell International

Honeywell International Inc is a diversified, publicly traded multinational conglomerate NASDAQ: HON that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell's aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.

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