Salem Investment Counselors Inc. Sells 6,039 Shares of Honeywell International Inc. (NASDAQ:HON)

Salem Investment Counselors Inc. reduced its holdings in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,335 shares of the conglomerate's stock after selling 6,039 shares during the period. Salem Investment Counselors Inc.'s holdings in Honeywell International were worth $9,600,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in HON. Capital World Investors acquired a new stake in shares of Honeywell International in the 4th quarter valued at about $1,594,216,000. Raymond James Financial Inc. acquired a new stake in shares of Honeywell International in the 4th quarter valued at about $435,786,000. ING Groep NV grew its stake in shares of Honeywell International by 884.0% in the 4th quarter. ING Groep NV now owns 1,752,472 shares of the conglomerate's stock valued at $395,866,000 after buying an additional 1,574,376 shares during the period. GAMMA Investing LLC grew its stake in shares of Honeywell International by 20,894.0% in the 1st quarter. GAMMA Investing LLC now owns 1,326,614 shares of the conglomerate's stock valued at $2,809,110,000 after buying an additional 1,320,295 shares during the period. Finally, Cibc World Markets Corp grew its stake in shares of Honeywell International by 411.8% in the 4th quarter. Cibc World Markets Corp now owns 1,265,358 shares of the conglomerate's stock valued at $285,832,000 after buying an additional 1,018,099 shares during the period. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Stock Performance

Shares of Honeywell International stock traded down $1.76 during mid-day trading on Friday, hitting $224.29. 2,497,010 shares of the stock were exchanged, compared to its average volume of 3,824,955. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.01 and a current ratio of 1.31. The company has a market capitalization of $144.15 billion, a P/E ratio of 25.75, a P/E/G ratio of 2.51 and a beta of 1.08. The company has a 50-day simple moving average of $213.35 and a 200 day simple moving average of $216.03. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The conglomerate reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.30. The company had revenue of $9.82 billion for the quarter, compared to analysts' expectations of $9.59 billion. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. Honeywell International's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 EPS. Sell-side 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 was paid on Friday, June 6th. Investors of record on Friday, May 16th were issued a $1.13 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.02%. Honeywell International's dividend payout ratio (DPR) is presently 51.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup lifted their price target on Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Royal Bank of Canada lifted their price target on Honeywell International from $211.00 to $226.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. Barclays cut their price target on Honeywell International from $247.00 to $243.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Bank of America upgraded Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price target for the company in a research note on Wednesday, May 7th. Finally, Mizuho lifted their price target on Honeywell International from $235.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $248.14.

About Honeywell International

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.