Pacer Advisors Inc. Sells 21,554 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• Pacer Advisors Inc. has reduced its stake in Honeywell International Inc. by 23.1%, now owning 71,747 shares valued at approximately $15.19 million.
• Several analysts have upgraded Honeywell's stock rating to "buy," with target price increases from firms like Barclays and Citigroup, setting expectations for more favorable market performance.
• Honeywell recently declared a quarterly dividend of $1.13 per share, representing an annualized dividend yield of 2.02% with a payout ratio of 51.42%.

Pacer Advisors Inc. lowered its holdings in Honeywell International Inc. (NASDAQ:HON - Free Report) by 23.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,747 shares of the conglomerate's stock after selling 21,554 shares during the period. Pacer Advisors Inc.'s holdings in Honeywell International were worth $15,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HON. World Investment Advisors lifted its stake in Honeywell International by 137.7% in the 4th quarter. World Investment Advisors now owns 22,387 shares of the conglomerate's stock valued at $5,057,000 after purchasing an additional 12,969 shares during the last quarter. Schroder Investment Management Group raised its stake in Honeywell International by 12.7% in the fourth quarter. Schroder Investment Management Group now owns 89,297 shares of the conglomerate's stock valued at $20,235,000 after buying an additional 10,092 shares during the period. 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 valued at $6,160,000 after acquiring an additional 736 shares in the last quarter. Potomac Fund Management Inc. ADV bought a new stake in shares of Honeywell International during the 4th quarter valued at $1,722,000. Finally, Petros Family Wealth LLC acquired a new stake in shares of Honeywell International during the 4th quarter worth $383,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Stock Down 1.5%

HON traded down $3.34 during midday trading on Tuesday, hitting $221.74. The company had a trading volume of 1,617,903 shares, compared to its average volume of 4,136,633. The stock's 50 day moving average price is $229.42 and its 200 day moving average price is $216.99. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77. The company has a market capitalization of $142.51 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.52 and a beta of 1.07. 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 issued its earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. The company had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.01 billion. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. Honeywell International's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $2.49 EPS. On average, research analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders 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 yield of 2.04%. Honeywell International's dividend payout ratio (DPR) is currently 51.42%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Mizuho upped their target price on Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Barclays boosted 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. Royal Bank Of Canada dropped their price objective on shares of Honeywell International from $254.00 to $253.00 and set a "sector perform" rating for the company in a report on Friday. Finally, Wells Fargo & Company decreased their price target on shares of Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a research report on Friday. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.