Shorepoint Capital Partners LLC Decreases Holdings in Honeywell International Inc. (NASDAQ:HON)

Shorepoint Capital Partners LLC cut its stake in Honeywell International Inc. (NASDAQ:HON - Free Report) by 80.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,980 shares of the conglomerate's stock after selling 12,523 shares during the quarter. Shorepoint Capital Partners LLC's holdings in Honeywell International were worth $673,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital World Investors acquired a new position in Honeywell International in the 4th quarter valued at about $1,594,216,000. Raymond James Financial Inc. purchased a new stake in shares of Honeywell International during the 4th quarter valued at approximately $435,786,000. ING Groep NV lifted its holdings in Honeywell International by 884.0% in the fourth quarter. ING Groep NV now owns 1,752,472 shares of the conglomerate's stock valued at $395,866,000 after acquiring an additional 1,574,376 shares during the last quarter. Cibc World Markets Corp grew its position in Honeywell International by 411.8% in the fourth quarter. Cibc World Markets Corp now owns 1,265,358 shares of the conglomerate's stock worth $285,832,000 after acquiring an additional 1,018,099 shares during the period. Finally, Demars Financial Group LLC acquired a new stake in Honeywell International during the fourth quarter worth $155,407,000. Hedge funds and other institutional investors own 75.91% of the company's stock.

Wall Street Analysts Forecast Growth

HON has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on Honeywell International from $211.00 to $226.00 and gave the stock a "sector perform" rating in a report on Wednesday. Wells Fargo & Company boosted their price target on shares of Honeywell International from $205.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday. Morgan Stanley increased their price objective on shares of Honeywell International from $210.00 to $217.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. cut their target price on Honeywell International from $205.00 to $178.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Honeywell International from a "hold" rating to a "buy" rating and raised their price target for the stock from $236.00 to $260.00 in a research report on Friday, February 7th. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Honeywell International presently has an average rating of "Hold" and an average price target of $241.46.

Honeywell International Stock Performance

Shares of NASDAQ HON traded up $0.24 during mid-day trading on Thursday, hitting $210.74. 3,589,607 shares of the company were exchanged, compared to its average volume of 3,703,481. The company has a quick ratio of 1.01, a current ratio of 1.31 and a debt-to-equity ratio of 1.33. The firm has a market cap of $135.56 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 2.51 and a beta of 1.01. The stock has a 50 day simple moving average of $205.01 and a 200-day simple moving average of $215.66. Honeywell International Inc. has a 1-year low of $179.36 and a 1-year high of $242.77.

Honeywell International (NASDAQ:HON - Get Free Report) last issued its earnings results on Tuesday, April 29th. The conglomerate reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.30. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.59 billion. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 earnings per share. On average, sell-side analysts forecast 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, June 6th. Shareholders of record on Friday, May 16th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, May 16th. Honeywell International's dividend payout ratio (DPR) is currently 51.95%.

Insider Activity

In other news, VP Anne T. Madden sold 28,885 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $207.89, for a total transaction of $6,004,902.65. Following the completion of the sale, the vice president now directly owns 41,580 shares in the company, valued at $8,644,066.20. This represents a 40.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.41% of the company's stock.

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.