Synovus Financial Corp Sells 13,326 Shares of Honeywell International Inc. $HON

Key Points

• Synovus Financial Corp has reduced its stake in Honeywell International by 15.1% in the first quarter, holding 74,796 shares valued at approximately $15.8 million after selling 13,326 shares.
• Honeywell International reported $2.75 EPS for the recent quarter, exceeding expectations, with revenue reaching $10.35 billion, which marks an 8.1% increase year-over-year.
• The company declared a quarterly dividend of $1.13 per share, resulting in an annualized dividend yield of 2.0%, set to be paid on September 5th.

Synovus Financial Corp trimmed its holdings in Honeywell International Inc. (NASDAQ:HON - Free Report) by 15.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,796 shares of the conglomerate's stock after selling 13,326 shares during the period. Synovus Financial Corp's holdings in Honeywell International were worth $15,838,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Red Door Wealth Management LLC lifted its position in shares of Honeywell International by 2.6% in the first quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate's stock valued at $6,160,000 after buying an additional 736 shares during the last quarter. Spinnaker Trust lifted its position in shares of Honeywell International by 2.4% in the first quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate's stock valued at $2,456,000 after buying an additional 276 shares during the last quarter. Beacon Financial Group lifted its position in shares of Honeywell International by 52.6% in the first quarter. Beacon Financial Group now owns 3,759 shares of the conglomerate's stock valued at $796,000 after buying an additional 1,295 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd lifted its position in shares of Honeywell International by 40.5% in the first quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 28,800 shares of the conglomerate's stock valued at $6,098,000 after buying an additional 8,300 shares during the last quarter. Finally, Codex Capital Asset Management L.L.C. acquired a new stake in shares of Honeywell International in the first quarter valued at approximately $5,294,000. 75.91% of the stock is owned by institutional investors and hedge funds.

Honeywell International Price Performance

HON stock traded down $1.31 during midday trading on Wednesday, reaching $221.25. The company had a trading volume of 2,110,972 shares, compared to its average volume of 3,269,740. The company has a market capitalization of $140.47 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08. The stock has a 50 day moving average price of $226.88 and a 200-day moving average price of $216.74. Honeywell International Inc. has a 1-year low of $179.36 and a 1-year high of $242.77. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.29 and a quick ratio of 0.97.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The conglomerate reported $2.75 EPS for the quarter, beating analysts' consensus estimates of $2.66 by $0.09. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.01 billion. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%.Honeywell International's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.49 earnings per share. Honeywell International has set its FY 2025 guidance at 10.450-10.650 EPS. Q3 2025 guidance at 2.500-2.600 EPS. Equities research analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.0%. Honeywell International's payout ratio is 51.42%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HON. JPMorgan Chase & Co. raised their price objective on Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Barclays lifted their price target on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Morgan Stanley lifted their price target on Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price target for the company in a report on Wednesday, May 7th. Finally, Mizuho lifted their price target on Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.