Wilmington Savings Fund Society FSB Cuts Position in Honeywell International Inc. $HON

Key Points

• Wilmington Savings Fund Society FSB has cut its position in Honeywell International by 2.9%, owning 115,297 shares valued at approximately $26.85 million after selling 3,446 shares in the second quarter.
• Honeywell's CEO, Lucian Boldea, significantly reduced his holdings by selling 42,149 shares for around $9.34 million, resulting in an 80.31% decrease in his ownership.
• Analysts have varying price targets for Honeywell, with Deutsche Bank raising its target to $271.00 while Wells Fargo lowered it to $220.00; the consensus rating remains a "Moderate Buy" with an average target of $251.80.

Wilmington Savings Fund Society FSB trimmed its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,297 shares of the conglomerate's stock after selling 3,446 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Honeywell International were worth $26,850,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. BankPlus Wealth Management LLC raised its holdings in shares of Honeywell International by 2.2% during the 2nd quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate's stock valued at $463,000 after buying an additional 43 shares during the period. Maia Wealth LLC raised its holdings in shares of Honeywell International by 4.1% during 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 period. Bar Harbor Wealth Management increased its holdings in Honeywell International by 0.3% during the 2nd quarter. Bar Harbor Wealth Management now owns 15,192 shares of the conglomerate's stock worth $3,538,000 after purchasing an additional 47 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in Honeywell International by 1.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,696 shares of the conglomerate's stock worth $628,000 after purchasing an additional 47 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC increased its holdings in Honeywell International by 1.1% during the 1st quarter. Kirtland Hills Capital Management LLC now owns 4,424 shares of the conglomerate's stock worth $870,000 after purchasing an additional 48 shares during the last quarter. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of the company's stock in a transaction on 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 completion of the sale, the chief executive officer owned 10,334 shares in the company, valued at $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HON shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Honeywell International from $268.00 to $271.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Weiss Ratings restated a "buy (b-)" rating on shares of Honeywell International in a report on Wednesday, October 8th. Royal Bank Of Canada dropped their price objective on Honeywell International from $254.00 to $253.00 and set a "sector perform" rating on the stock in a report on Friday, July 25th. Barclays lifted their price objective on Honeywell International from $258.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company dropped their price objective on Honeywell International from $230.00 to $220.00 and set an "equal weight" rating on the stock in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $251.80.

Honeywell International Price Performance

Shares of HON opened at $202.91 on Tuesday. The company has a market cap of $128.83 billion, a P/E ratio of 23.08, a PEG ratio of 2.25 and a beta of 1.06. The stock has a fifty day moving average price of $213.75 and a 200 day moving average price of $217.20. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.29 and a quick ratio of 0.97. 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 results 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 during 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. On average, research analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

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

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.

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