ING Groep NV Cuts Stock Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• ING Groep NV has reduced its stake in Honeywell International by 32.3%, selling 565,967 shares, and now holds approximately 1.7% of the company.
• Honeywell reported $2.75 earnings per share for the recent quarter, exceeding analysts' expectations of $2.66, with quarterly revenue up 8.1% year-over-year.
• The company announced a quarterly dividend of $1.13 per share, representing an annualized dividend yield of 2.1%.

ING Groep NV lessened its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 32.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,186,505 shares of the conglomerate's stock after selling 565,967 shares during the period. Honeywell International accounts for about 1.7% of ING Groep NV's portfolio, making the stock its 11th largest position. ING Groep NV owned approximately 0.18% of Honeywell International worth $251,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Earned Wealth Advisors LLC purchased a new stake in Honeywell International during the first quarter worth about $211,000. Allianz SE lifted its holdings in shares of Honeywell International by 426.5% during the 1st quarter. Allianz SE now owns 25,692 shares of the conglomerate's stock worth $5,440,000 after acquiring an additional 20,812 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Honeywell International by 0.3% during the first quarter. Commonwealth Equity Services LLC now owns 378,318 shares of the conglomerate's stock valued at $80,109,000 after buying an additional 1,257 shares during the period. Argent Trust Co raised its holdings in Honeywell International by 0.8% during the 1st quarter. Argent Trust Co now owns 101,009 shares of the conglomerate's stock valued at $21,389,000 after buying an additional 766 shares during the last quarter. Finally, Scotia Capital Inc. boosted its holdings in Honeywell International by 4.6% in the first quarter. Scotia Capital Inc. now owns 452,895 shares of the conglomerate's stock valued at $95,901,000 after acquiring an additional 19,714 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company's stock.

Honeywell International Trading Down 1.2%

HON stock traded down $2.65 during trading on Thursday, hitting $216.58. The company had a trading volume of 2,885,321 shares, compared to its average volume of 4,114,196. Honeywell International Inc. has a 52-week low of $179.36 and a 52-week high of $242.77. The firm has a market capitalization of $137.51 billion, a P/E ratio of 24.64, a PEG ratio of 2.49 and a beta of 1.08. The company has a 50 day simple moving average of $229.00 and a 200-day simple moving average of $217.05. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.01 billion. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The business's revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.49 EPS. As a group, research analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Announces Dividend

The firm 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 $1.13 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.52 dividend on an annualized basis and a yield of 2.1%. Honeywell International's payout ratio is 51.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HON shares. Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 price target on the stock in a report on Wednesday, May 7th. Wall Street Zen raised shares of Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley boosted their target price on shares of Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Wells Fargo & Company lowered their price target on shares of Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a report on Friday, July 25th. Finally, 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. 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 company's stock. Based on data from MarketBeat, the company 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.