Northeast Investment Management Trims Stock Holdings in Honeywell International Inc. $HON

Key Points

• Northeast Investment Management has reduced its stake in Honeywell International by 3.0%, now holding 119,918 shares valued at approximately $27.9 million.
• The recent quarterly earnings report showed Honeywell's EPS at $2.25 with guidance for Q4 set between $2.530 and $2.630.
• Honeywell International announced a quarterly dividend increase to $1.19, leading to an annualized yield of 2.3%, with the payment scheduled for December 5th.

Northeast Investment Management lowered its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 3.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 119,918 shares of the conglomerate's stock after selling 3,730 shares during the period. Honeywell International comprises about 1.2% of Northeast Investment Management's portfolio, making the stock its 27th largest holding. Northeast Investment Management's holdings in Honeywell International were worth $27,927,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Chung Wu Investment Group LLC purchased a new position in shares of Honeywell International during the 2nd quarter valued at about $26,000. RMG Wealth Management LLC purchased a new position in shares of Honeywell International during the 2nd quarter valued at about $33,000. Activest Wealth Management raised its stake in shares of Honeywell International by 425.9% during the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate's stock valued at $33,000 after buying an additional 115 shares during the last quarter. Pandora Wealth Inc. purchased a new position in shares of Honeywell International during the 1st quarter valued at about $33,000. Finally, Dogwood Wealth Management LLC raised its stake in shares of Honeywell International by 143.9% during the 2nd quarter. Dogwood Wealth Management LLC now owns 161 shares of the conglomerate's stock valued at $39,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company's stock.

Honeywell International Price Performance

Shares of Honeywell International stock opened at $202.96 on Friday. 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 Inc. has a twelve month low of $179.36 and a twelve month high of $242.77. The business has a 50-day moving average price of $212.63 and a 200 day moving average price of $216.91. The firm has a market cap of $128.86 billion, a PE ratio of 23.09, a P/E/G ratio of 2.28 and a beta of 1.06.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%.The company had revenue of $8.95 billion for the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. Sell-side analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, November 14th. This is a positive change from Honeywell International's previous quarterly dividend of $1.13. Honeywell International's payout ratio is presently 51.42%.

Insider Transactions at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction dated 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 sale, the chief executive officer directly owned 10,334 shares in the company, valued at approximately $2,289,807.72. The trade was a 80.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HON shares. Morgan Stanley lifted their price objective on Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Honeywell International in a research note on Wednesday, October 8th. Robert W. Baird dropped their target price on Honeywell International from $250.00 to $220.00 and set a "neutral" rating on the stock in a research report on Monday, October 13th. Royal Bank Of Canada cut their price target on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating for the company in a research note on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Honeywell International from $268.00 to $271.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $251.67.

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.

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