Independent Advisor Alliance Sells 6,556 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• Independent Advisor Alliance has reduced its stake in Honeywell International Inc. by 15%, now owning 37,263 shares valued at approximately $7.89 million.
• Honeywell reported a net income of $2.75 EPS for the quarter, exceeding estimates, with revenue rising 8.1% year-over-year.
• The company recently declared a quarterly dividend of $1.13, with a current yield of 2.1%, and a payout ratio of 51.42%.

Independent Advisor Alliance lessened its stake in Honeywell International Inc. (NASDAQ:HON - Free Report) by 15.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,263 shares of the conglomerate's stock after selling 6,556 shares during the period. Independent Advisor Alliance's holdings in Honeywell International were worth $7,891,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Red Door Wealth Management LLC boosted its position in shares of Honeywell International by 2.6% during the 1st quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate's stock valued at $6,160,000 after purchasing an additional 736 shares in the last quarter. Spinnaker Trust boosted its position in shares of Honeywell International by 2.4% during the 1st quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate's stock valued at $2,456,000 after purchasing an additional 276 shares in the last quarter. Menora Mivtachim Holdings LTD. bought a new stake in shares of Honeywell International during the 4th quarter valued at about $316,000. Beacon Financial Group boosted its position in shares of Honeywell International by 52.6% during the 1st quarter. Beacon Financial Group now owns 3,759 shares of the conglomerate's stock valued at $796,000 after purchasing an additional 1,295 shares in the last quarter. Finally, WIM INVESTMENT MANAGEMENT Ltd increased its position in Honeywell International by 40.5% in the 1st quarter. WIM INVESTMENT MANAGEMENT Ltd now owns 28,800 shares of the conglomerate's stock valued at $6,098,000 after buying an additional 8,300 shares in the last quarter. Institutional investors own 75.91% of the company's stock.

Honeywell International Stock Up 0.3%

NASDAQ HON traded up $0.56 during trading hours on Tuesday, hitting $217.01. The company's stock had a trading volume of 4,340,984 shares, compared to its average volume of 3,802,513. 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 $137.78 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.44 and a beta of 1.08. The company has a current ratio of 1.29, a quick ratio of 0.97 and a debt-to-equity ratio of 1.81. The company's 50-day simple moving average is $228.28 and its two-hundred day simple moving average is $216.81.

Honeywell International (NASDAQ:HON - Get Free Report) last issued its quarterly earnings data 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. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The business 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 firm posted $2.49 EPS. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts anticipate that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be given a $1.13 dividend. 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 presently 51.42%.

Wall Street Analyst Weigh In

HON has been the subject of a number of research analyst reports. Mizuho boosted their target price on Honeywell International from $235.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Barclays boosted their target price on Honeywell International from $258.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wells Fargo & Company decreased their target price on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a research report on Friday, July 25th. Finally, Morgan Stanley boosted their target price on Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Eight investment 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 stock. According to data from MarketBeat.com, the company currently 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.