Honeywell International Inc. $HON Shares Sold by Mengis Capital Management Inc.

Key Points

• Mengis Capital Management Inc. sold 55.7% of its holdings in Honeywell International, reducing its shares from 12,336 to 5,461, valued at approximately $1.27 million.
• Several analysts have adjusted their price targets for Honeywell, with Wells Fargo lowering it from $230 to $220, while Deutsche Bank raised their target from $268 to $271.
• Honeywell International announced a quarterly dividend increase to $1.19 per share, representing a yield of 2.3%, with an ex-dividend date on November 14th.

Mengis Capital Management Inc. lessened its holdings in Honeywell International Inc. (NASDAQ:HON - Free Report) by 55.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,461 shares of the conglomerate's stock after selling 6,875 shares during the quarter. Mengis Capital Management Inc.'s holdings in Honeywell International were worth $1,272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of HON. BankPlus Wealth Management LLC boosted its stake in shares of Honeywell International by 2.2% in the 2nd quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate's stock valued at $463,000 after buying an additional 43 shares during the period. Maia Wealth LLC boosted its stake in shares of 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 during the period. Bar Harbor Wealth Management boosted its stake in shares of Honeywell International by 0.3% in the 2nd quarter. Bar Harbor Wealth Management now owns 15,192 shares of the conglomerate's stock valued at $3,538,000 after buying an additional 47 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Honeywell International by 1.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,696 shares of the conglomerate's stock valued at $628,000 after buying an additional 47 shares during the period. Finally, Kirtland Hills Capital Management LLC boosted its stake in shares of 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 during the period. Institutional investors and hedge funds own 75.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HON shares. Wells Fargo & Company decreased their price objective on Honeywell International from $230.00 to $220.00 and set an "equal weight" rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on Honeywell International from $268.00 to $271.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. TD Cowen decreased their price objective on Honeywell International from $260.00 to $250.00 in a research note on Tuesday. Royal Bank Of Canada decreased their target price on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating for the company in a research note on Friday, July 25th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Honeywell International in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $251.80.

Honeywell International Trading Down 2.7%

HON opened at $204.23 on Friday. The firm has a market cap of $129.67 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 2.35 and a beta of 1.06. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77. The business's 50 day moving average is $214.45 and its two-hundred day moving average is $217.28. 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 released its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The company had revenue of $8.95 billion for the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. On average, research analysts predict that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 2.3%. This is a positive change from Honeywell International's previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International's dividend payout ratio is presently 51.42%.

Insider Buying and Selling

In other news, CEO Lucian Boldea sold 42,149 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the transaction, the chief executive officer owned 10,334 shares of the company's stock, valued at approximately $2,289,807.72. The trade was a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Honeywell International Company 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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