West Michigan Advisors LLC Reduces Position in Honeywell International Inc. (NASDAQ:HON)

Key Points

• West Michigan Advisors LLC has reduced its stake in Honeywell International Inc. by 49.3%, now holding 1,672 shares worth approximately $354,000.
• Honeywell recently reported quarterly earnings of $2.75 EPS, exceeding analyst expectations of $2.66 EPS, with revenue rising by 8.1% year-over-year.
• The company announced a quarterly dividend of $1.13 per share, with an annualized yield of 2.0%, to be paid on September 5th.

West Michigan Advisors LLC decreased its stake in shares of Honeywell International Inc. (NASDAQ:HON - Free Report) by 49.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,672 shares of the conglomerate's stock after selling 1,629 shares during the period. West Michigan Advisors LLC's holdings in Honeywell International were worth $354,000 at the end of the most recent reporting period.

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

Honeywell International Trading Up 0.1%

Honeywell International stock opened at $221.06 on Wednesday. The firm has a 50 day simple moving average of $229.11 and a 200-day simple moving average of $217.04. 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 stock has a market capitalization of $140.35 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 2.49 and a beta of 1.08. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The conglomerate reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. The company had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.01 billion. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. The business's revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.49 EPS. As a group, equities research analysts expect that Honeywell International Inc. will post 10.34 EPS 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. This represents a $4.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 15th. Honeywell International's dividend payout ratio (DPR) is presently 51.42%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Honeywell International from $182.00 to $217.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen upgraded Honeywell International from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Wells Fargo & Company decreased their price objective on shares of 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. Mizuho upped their price objective on shares of Honeywell International from $235.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Morgan Stanley upped their price objective on shares of Honeywell International from $225.00 to $245.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.00.

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.

Want to see what other hedge funds are holding HON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Honeywell International Inc. (NASDAQ:HON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.