PNC Financial Services Group Inc. Sells 88,536 Shares of Honeywell International Inc. (NASDAQ:HON)

Key Points

• PNC Financial Services Group Inc. reduced its stake in Honeywell International by 5.7%, owning 1,458,315 shares valued at approximately $308.80 million as of the latest reporting period.
• Honeywell reported a quarterly EPS of $2.75, exceeding expectations, and achieved revenues of $10.35 billion, reflecting an 8.1% year-over-year increase.
• The company is set to pay a quarterly dividend of $1.13 per share on September 5th, representing a yield of 2.1% and a payout ratio of 51.42%.

PNC Financial Services Group Inc. lessened its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,458,315 shares of the conglomerate's stock after selling 88,536 shares during the period. PNC Financial Services Group Inc. owned about 0.23% of Honeywell International worth $308,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC bought a new stake in shares of Honeywell International in the 4th quarter valued at approximately $29,000. Accredited Wealth Management LLC bought a new stake in shares of Honeywell International in the 4th quarter valued at approximately $34,000. Alexis Investment Partners LLC bought a new stake in shares of Honeywell International in the 4th quarter valued at approximately $37,000. Banque de Luxembourg S.A. bought a new stake in shares of Honeywell International in the 4th quarter valued at approximately $38,000. Finally, Garde Capital Inc. bought a new stake in shares of Honeywell International in the 1st quarter valued at approximately $42,000. Institutional investors and hedge funds own 75.91% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HON shares. Mizuho upped their target price on Honeywell International from $235.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Wells Fargo & Company reduced their target price on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating for the company in a research report on Friday, July 25th. Bank of America raised Honeywell International from a "neutral" rating to a "buy" rating and set a $250.00 target price for the company in a research report on Wednesday, May 7th. Morgan Stanley increased their price objective on Honeywell International from $225.00 to $245.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Finally, Royal Bank Of Canada dropped their price objective 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. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $254.00.

Honeywell International Trading Up 1.4%

HON traded up $3.08 during midday trading on Monday, reaching $220.79. 3,451,864 shares of the company were exchanged, compared to its average volume of 3,710,047. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29. Honeywell International Inc. has a one year low of $179.36 and a one year high of $242.77. The stock has a market capitalization of $140.18 billion, a P/E ratio of 25.12, a PEG ratio of 2.46 and a beta of 1.08. The stock's 50-day simple moving average is $229.24 and its 200 day simple moving average is $217.02.

Honeywell International (NASDAQ:HON - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The conglomerate reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. The business 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%. Honeywell International's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.49 EPS. As a group, analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 15th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.0%. Honeywell International's 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.