Maryland State Retirement & Pension System Has $6.45 Million Stake in Honeywell International Inc. (NASDAQ:HON)

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in Honeywell International Inc. by 13.2%, owning 30,474 shares valued at approximately $6.45 million after selling 4,648 shares in the first quarter.
• Several hedge funds have increased their positions in Honeywell, with FMR LLC raising its stake by 13.5% and FIL Ltd by 26.5% in the fourth quarter.
• Honeywell recently reported a quarterly EPS of $2.75, surpassing estimates, and announced a dividend of $1.13 per share, reflecting a 2.1% yield.

Maryland State Retirement & Pension System lessened its holdings in Honeywell International Inc. (NASDAQ:HON - Free Report) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,474 shares of the conglomerate's stock after selling 4,648 shares during the quarter. Maryland State Retirement & Pension System's holdings in Honeywell International were worth $6,453,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HON. Red Door Wealth Management LLC raised its stake in Honeywell International by 2.6% during the first quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate's stock worth $6,160,000 after acquiring an additional 736 shares in the last quarter. Petros Family Wealth LLC acquired a new position in Honeywell International during the fourth quarter worth about $383,000. Spinnaker Trust raised its stake in Honeywell International by 2.4% during the first quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate's stock worth $2,456,000 after acquiring an additional 276 shares in the last quarter. Menora Mivtachim Holdings LTD. acquired a new position in Honeywell International during the fourth quarter worth about $316,000. Finally, Beacon Financial Group raised its stake in Honeywell International by 52.6% during the first quarter. Beacon Financial Group now owns 3,759 shares of the conglomerate's stock worth $796,000 after acquiring an additional 1,295 shares in the last quarter. Institutional investors own 75.91% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HON. Wall Street Zen raised Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Citigroup boosted their target price on Honeywell International from $242.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. boosted their target price on Honeywell International from $182.00 to $217.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Bank of America upgraded 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. Finally, Barclays boosted their price target on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.00.

Honeywell International Trading Down 0.1%

HON stock traded down $0.25 during trading on Friday, hitting $216.33. The company had a trading volume of 3,058,993 shares, compared to its average volume of 3,795,408. The business has a 50-day moving average of $228.66 and a 200-day moving average of $216.91. Honeywell International Inc. has a one year low of $179.36 and a one year high of $242.77. The stock has a market cap of $137.35 billion, a PE ratio of 24.61, a PEG 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.

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 firm had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.01 billion. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.49 EPS. Research analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, August 15th. Honeywell International's dividend payout ratio is presently 51.42%.

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.