Mitsubishi UFJ Trust & Banking Corp Sells 13,036 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• Mitsubishi UFJ Trust & Banking Corp has reduced its stake in Honeywell International Inc. by 3.5% in the first quarter, holding 360,696 shares valued at $76.38 million.
• Honeywell reported a quarterly earnings per share of $2.75, exceeding analyst expectations and marking an 8.1% increase in revenue year-over-year at $10.35 billion.
• The company will pay a quarterly dividend of $1.13 per share on September 5th, with a current dividend yield of 2.1% and a payout ratio of 51.42%.

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Honeywell International Inc. (NASDAQ:HON - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 360,696 shares of the conglomerate's stock after selling 13,036 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Honeywell International worth $76,377,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in HON. Brighton Jones LLC grew its holdings in shares of Honeywell International by 9.1% during the 4th quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate's stock worth $4,302,000 after purchasing an additional 1,582 shares in the last quarter. Pitcairn Co. boosted its stake in Honeywell International by 1.2% in the 4th quarter. Pitcairn Co. now owns 5,072 shares of the conglomerate's stock valued at $1,146,000 after buying an additional 61 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Honeywell International in the 4th quarter valued at $43,029,000. Perennial Investment Advisors LLC boosted its stake in Honeywell International by 5.2% in the 4th quarter. Perennial Investment Advisors LLC now owns 1,796 shares of the conglomerate's stock valued at $406,000 after buying an additional 88 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Honeywell International by 2.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,051,730 shares of the conglomerate's stock valued at $237,575,000 after buying an additional 22,616 shares in the last quarter. 75.91% of the stock is owned by institutional investors.

Honeywell International Trading Down 0.9%

NASDAQ:HON traded down $1.99 during mid-day trading on Thursday, hitting $217.25. The company had a trading volume of 266,504 shares, compared to its average volume of 4,095,571. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77. The business's fifty day moving average is $229.00 and its two-hundred day moving average is $217.05. The firm has a market cap of $137.93 billion, a P/E ratio of 24.74, a P/E/G ratio of 2.49 and a beta of 1.08. 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 (NASDAQ:HON - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.01 billion. During the same period in the prior year, the company earned $2.49 earnings per share. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 15th. Honeywell International's dividend payout ratio is currently 51.42%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HON. Barclays boosted their price target on Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada reduced their price objective on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a research note on Friday, July 25th. Wall Street Zen raised Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price objective on the stock in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company reduced their price objective on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating on the stock in a research note on Friday, July 25th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $254.00.

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.