Tower Bridge Advisors Has $6.30 Million Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Tower Bridge Advisors reduced its stake in Honeywell International Inc. by 5.7%, owning 29,751 shares worth approximately $6.3 million after selling 1,800 shares.
• Recent analyst ratings have been mixed; Barclays increased their price target to $265, while Wells Fargo decreased theirs to $230, indicating a range of investor sentiment.
• Honeywell International announced a quarterly dividend of $1.13 per share, representing an annualized dividend of $4.52 and a yield of 2.04%, with a payout ratio of 51.42%.

Tower Bridge Advisors trimmed its position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,751 shares of the conglomerate's stock after selling 1,800 shares during the quarter. Tower Bridge Advisors' holdings in Honeywell International were worth $6,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in HON. Mpwm Advisory Solutions LLC acquired a new position in shares of Honeywell International during the 4th quarter valued at about $29,000. Accredited Wealth Management LLC bought a new stake in Honeywell International during the fourth quarter worth approximately $34,000. Alexis Investment Partners LLC acquired a new position in Honeywell International during the fourth quarter valued at approximately $37,000. Banque de Luxembourg S.A. bought a new position in shares of Honeywell International in the fourth quarter valued at approximately $38,000. Finally, Garde Capital Inc. acquired a new stake in shares of Honeywell International in the first quarter worth $42,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Price Performance

Shares of NASDAQ:HON traded down $4.14 during trading on Friday, reaching $218.21. The stock had a trading volume of 637,762 shares, compared to its average volume of 4,123,803. The stock has a market capitalization of $138.54 billion, a PE ratio of 24.83, a P/E/G ratio of 2.51 and a beta of 1.07. 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 price is $229.33 and its 200 day moving average price is $217.08. 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 issued its quarterly earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.01 billion. During the same quarter in the prior year, the firm posted $2.49 earnings per share. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Dividend Announcement

The business also recently disclosed 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. 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 2.1%. Honeywell International's payout ratio is 51.42%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HON shares. Wall Street Zen upgraded shares of Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Bank of America upgraded shares of 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. Mizuho boosted their price objective on Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. lifted their price target on Honeywell International from $182.00 to $217.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Citigroup boosted their target price on shares of Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Honeywell International has an average 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.