TIAA Trust National Association Sells 8,264 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• TIAA Trust National Association reduced its holdings in Honeywell International by 11.6%, selling 8,264 shares, bringing its total ownership to 62,802 shares valued at approximately $13.3 million.
• Honeywell reported a quarterly earnings per share of $2.75, surpassing estimates by $0.09, with revenue of $10.35 billion, an increase of 8.1% year-over-year.
• The company announced a quarterly dividend of $1.13 per share, reflecting an annualized yield of 2.1%, with the dividend payout ratio at 51.42%.

TIAA Trust National Association cut its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 11.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,802 shares of the conglomerate's stock after selling 8,264 shares during the period. TIAA Trust National Association's holdings in Honeywell International were worth $13,298,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Kirtland Hills Capital Management LLC grew its position 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 acquiring an additional 48 shares during the period. Sound View Wealth Advisors Group LLC grew its holdings in Honeywell International by 0.6% during the first quarter. Sound View Wealth Advisors Group LLC now owns 8,769 shares of the conglomerate's stock worth $1,857,000 after purchasing an additional 48 shares during the period. Gateway Wealth Partners LLC increased its position in Honeywell International by 2.5% during the first quarter. Gateway Wealth Partners LLC now owns 2,044 shares of the conglomerate's stock worth $433,000 after buying an additional 49 shares during the last quarter. Cetera Trust Company N.A raised its stake in Honeywell International by 0.5% in the first quarter. Cetera Trust Company N.A now owns 10,475 shares of the conglomerate's stock valued at $2,218,000 after buying an additional 50 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of Honeywell International by 12.0% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 466 shares of the conglomerate's stock valued at $99,000 after buying an additional 50 shares during the last quarter. 75.91% of the stock is owned by hedge funds and other institutional investors.

Honeywell International Trading Down 0.6%

Shares of HON traded down $1.31 during mid-day trading on Thursday, reaching $217.92. 154,993 shares of the company were exchanged, compared to its average volume of 4,095,420. The stock has a market capitalization of $138.36 billion, a PE ratio of 24.79, a PEG ratio of 2.49 and a beta of 1.08. The business has a 50 day simple moving average of $229.00 and a two-hundred day simple moving average of $217.05. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.01 billion. During the same period last year, the business posted $2.49 EPS. The business's revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Announces Dividend

The company also recently declared 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. This represents a $4.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 15th. Honeywell International's dividend payout ratio is 51.42%.

Analysts Set New Price Targets

Several research firms have commented on HON. Barclays upped their price objective on shares of Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Wells Fargo & Company decreased their target price on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating on the stock in a research report on Friday, July 25th. Mizuho lifted their price objective on shares of Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Citigroup raised their target price on shares of Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Morgan Stanley lifted their price objective on Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Eight 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. Based on data from MarketBeat.com, 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.