M&T Bank Corp Sells 16,201 Shares of Honeywell International Inc. $HON

Key Points

• M&T Bank Corp trimmed its Honeywell position by 6.5% in Q3, selling 16,201 shares and leaving it with 232,979 shares worth about $49.04 million.
• Company insiders sold a total of 18,190 shares (~$4.24 million) in the past three months, including VP Robert D. Mailloux's 10,549‑share sale (~$2.42 million) and Director D. Scott Davis's 2,367‑share sale; insiders now own 0.20% of the stock.
• Analysts have been lifting price targets (average target ~$251.65, consensus "Moderate Buy") after Honeywell beat Q results (EPS $2.59 vs. $2.54; revenue $10.07B vs. $9.60B) and the company recently paid a $1.19 quarterly dividend (2.0% yield).

M&T Bank Corp cut its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 232,979 shares of the conglomerate's stock after selling 16,201 shares during the period. M&T Bank Corp's holdings in Honeywell International were worth $49,042,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC grew its position in shares of Honeywell International by 491.7% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 142 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 118 shares during the period. Howard Hughes Medical Institute bought a new position in Honeywell International in the second quarter valued at approximately $33,000. Cedar Mountain Advisors LLC boosted its holdings in shares of Honeywell International by 116.7% in the third quarter. Cedar Mountain Advisors LLC now owns 156 shares of the conglomerate's stock valued at $33,000 after buying an additional 84 shares during the period. SJS Investment Consulting Inc. raised its holdings in shares of Honeywell International by 833.3% during the third quarter. SJS Investment Consulting Inc. now owns 168 shares of the conglomerate's stock worth $35,000 after acquiring an additional 150 shares during the period. Finally, Cloud Capital Management LLC bought a new stake in Honeywell International in the 3rd quarter valued at $35,000. Institutional investors own 75.91% of the company's stock.

Insider Buying and Selling

In related news, VP Robert D. Mailloux sold 10,549 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $229.00, for a total value of $2,415,721.00. Following the sale, the vice president owned 4,803 shares in the company, valued at approximately $1,099,887. This represents a 68.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director D Scott Davis sold 2,367 shares of Honeywell International stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $240.00, for a total transaction of $568,080.00. Following the transaction, the director directly owned 31,081 shares of the company's stock, valued at approximately $7,459,440. This trade represents a 7.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 18,190 shares of company stock worth $4,244,287. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Rothschild & Co Redburn lifted their price target on Honeywell International from $222.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, February 2nd. Argus lifted their target price on Honeywell International from $250.00 to $290.00 and gave the company a "buy" rating in a research report on Wednesday, February 18th. Robert W. Baird upped their price target on Honeywell International from $220.00 to $240.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Morgan Stanley lifted their price objective on shares of Honeywell International from $235.00 to $245.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Daiwa Securities Group increased their target price on shares of Honeywell International from $230.00 to $240.00 in a report on Tuesday, February 3rd. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $251.65.

Honeywell International Trading Up 0.5%

Shares of Honeywell International stock opened at $234.50 on Friday. Honeywell International Inc. has a 12-month low of $169.21 and a 12-month high of $248.18. The company has a quick ratio of 1.03, a current ratio of 1.30 and a debt-to-equity ratio of 1.81. The business's 50 day moving average is $229.78 and its 200-day moving average is $212.41. The stock has a market cap of $149.07 billion, a P/E ratio of 29.35, a P/E/G ratio of 3.38 and a beta of 0.92.

Honeywell International (NASDAQ:HON - Get Free Report) last issued its earnings results on Thursday, January 29th. The conglomerate reported $2.59 earnings per share for the quarter, topping analysts' consensus estimates of $2.54 by $0.05. The business had revenue of $10.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Honeywell International had a net margin of 12.74% and a return on equity of 40.64%. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.47 earnings per share. Equities 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 was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $1.19 per share. The ex-dividend date was Friday, February 27th. This represents a $4.76 dividend on an annualized basis and a yield of 2.0%. Honeywell International's dividend payout ratio (DPR) is presently 59.57%.

Honeywell International Profile

Honeywell International Inc is a diversified, publicly traded multinational conglomerate NASDAQ: HON that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell's aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.

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