Lee Danner & Bass Inc. Sells 2,086 Shares of Honeywell International Inc. $HON

Key Points

• Lee Danner & Bass Inc. reduced its holdings in Honeywell International Inc. by 6.0%, selling 2,086 shares, leaving them with 32,922 shares valued at approximately $7.67 million.
• Several institutional investors increased their positions in Honeywell, with Amundi notably raising its stake by 30.2%, now owning 519,882 shares worth $107.45 million.
• Honeywell announced a quarterly dividend of $1.19 per share, up from $1.13, with an annual yield of 2.2%, reflecting a payout ratio of 54.15%.

Lee Danner & Bass Inc. decreased its holdings in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 6.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,922 shares of the conglomerate's stock after selling 2,086 shares during the period. Lee Danner & Bass Inc.'s holdings in Honeywell International were worth $7,667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Red Door Wealth Management LLC raised its position in 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 during the last quarter. Amundi raised its position in Honeywell International by 30.2% during the 1st quarter. Amundi now owns 519,882 shares of the conglomerate's stock valued at $107,450,000 after purchasing an additional 120,706 shares during the last quarter. Triton Financial Group Inc purchased a new position in shares of Honeywell International during the 2nd quarter worth approximately $1,001,000. Spinnaker Trust grew its holdings in shares of Honeywell International by 2.4% during the 1st quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate's stock worth $2,456,000 after acquiring an additional 276 shares during the period. Finally, Baxter Bros Inc. grew its holdings in shares of Honeywell International by 14.6% during the 2nd quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate's stock worth $8,321,000 after acquiring an additional 4,543 shares during the period. Institutional investors own 75.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HON. Citigroup upped their target price on Honeywell International from $265.00 to $267.00 and gave the stock a "buy" rating in a report on Friday. Barclays upped their target price on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Morgan Stanley upped their target price on Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Weiss Ratings restated a "buy (b-)" rating on shares of Honeywell International in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on Honeywell International from $212.00 to $218.00 and gave the stock a "neutral" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $251.27.

Honeywell International Stock Performance

HON stock opened at $218.02 on Friday. The stock has a market capitalization of $138.42 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.56 and a beta of 1.06. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77. 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 stock's 50 day simple moving average is $212.05 and its 200 day simple moving average is $217.19.

Honeywell International (NASDAQ:HON - Get Free Report) last released its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The business had revenue of $8.95 billion for the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be given a $1.19 dividend. This is a boost from Honeywell International's previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 annualized dividend and a yield of 2.2%. Honeywell International's payout ratio is currently 54.15%.

Insider Transactions at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the transaction, the chief executive officer directly owned 10,334 shares of the company's stock, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.

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.

Want to see what other hedge funds are holding HON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Honeywell International Inc. (NASDAQ:HON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.