Russell Investments Group Ltd. Lowers Stock Holdings in Honeywell International Inc. (NASDAQ:HON)

Key Points

• Russell Investments Group Ltd. reduced its stake in Honeywell International by 4.2%, holding 340,008 shares valued at approximately $71.99 million as of its latest SEC filing.
• Honeywell's revenue for the last quarter was $10.35 billion, exceeding analyst estimates of $10.01 billion, and it reported earnings per share of $2.75.
• The company's quarterly dividend of $1.13, representing a 2.1% dividend yield, will be paid on September 5th to stockholders of record as of August 15th.

Russell Investments Group Ltd. reduced its position in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 340,008 shares of the conglomerate's stock after selling 14,750 shares during the period. Russell Investments Group Ltd. owned approximately 0.05% of Honeywell International worth $71,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Maia Wealth LLC grew its position in shares of Honeywell International by 4.1% in the 1st quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate's stock valued at $238,000 after buying an additional 47 shares during the last quarter. Kirtland Hills Capital Management LLC grew its position in shares of Honeywell International by 1.1% in the 1st quarter. Kirtland Hills Capital Management LLC now owns 4,424 shares of the conglomerate's stock valued at $870,000 after buying an additional 48 shares during the last quarter. Sound View Wealth Advisors Group LLC grew its position in shares of Honeywell International by 0.6% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 8,769 shares of the conglomerate's stock valued at $1,857,000 after buying an additional 48 shares during the last quarter. Gateway Wealth Partners LLC grew its position in shares of Honeywell International by 2.5% in the 1st quarter. Gateway Wealth Partners LLC now owns 2,044 shares of the conglomerate's stock valued at $433,000 after buying an additional 49 shares during the last quarter. Finally, Cetera Trust Company N.A grew its position in shares of Honeywell International by 0.5% in the 1st quarter. Cetera Trust Company N.A now owns 10,475 shares of the conglomerate's stock valued at $2,218,000 after buying an additional 50 shares during the last quarter. 75.91% of the stock is owned by institutional investors and hedge funds.

Honeywell International Stock Performance

Shares of Honeywell International stock traded down $1.43 during trading hours on Friday, reaching $216.77. The company had a trading volume of 2,740,896 shares, compared to its average volume of 4,078,667. Honeywell International Inc. has a one year low of $179.36 and a one year high of $242.77. The business has a fifty day simple moving average of $227.96 and a 200 day simple moving average of $216.78. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.29 and a quick ratio of 0.97. The firm has a market cap of $137.63 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.48 and a beta of 1.08.

Honeywell International (NASDAQ:HON - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.01 billion. Honeywell International had a return on equity of 37.37% and a net margin of 14.30%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $2.49 earnings per share. On average, analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HON shares. Mizuho upped their price target on Honeywell International from $235.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Morgan Stanley boosted 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. Wells Fargo & Company dropped their price objective on Honeywell International from $240.00 to $230.00 and set an "equal weight" rating on the stock in a research note on Friday, July 25th. Citigroup boosted their price objective on Honeywell International from $242.00 to $265.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen raised Honeywell International from a "hold" rating to a "buy" rating in a research note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Honeywell International currently has an average rating of "Moderate Buy" and a consensus price target of $254.00.

About Honeywell International

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.