Geode Capital Management LLC Sells 79,009 Shares of Honeywell International Inc. $HON

Geode Capital Management LLC decreased its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,431,173 shares of the conglomerate’s stock after selling 79,009 shares during the period. Geode Capital Management LLC owned approximately 2.43% of Honeywell International worth $3,581,984,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Chung Wu Investment Group LLC bought a new position in Honeywell International during the 2nd quarter worth about $26,000. Pandora Wealth Inc. acquired a new position in shares of Honeywell International during the first quarter worth about $33,000. RMG Wealth Management LLC bought a new position in shares of Honeywell International during the second quarter worth about $33,000. Activest Wealth Management raised its position in Honeywell International by 425.9% in the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Finally, 1248 Management LLC bought a new stake in Honeywell International in the 1st quarter valued at approximately $38,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Trading Up 2.2%

Shares of NASDAQ:HON opened at $200.41 on Wednesday. Honeywell International Inc. has a 52-week low of $179.36 and a 52-week high of $242.77. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36. The company has a market capitalization of $127.24 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.73 and a beta of 1.07. The company has a 50-day simple moving average of $207.82 and a 200 day simple moving average of $218.30.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The firm had revenue of $8.95 billion for 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. Sell-side analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 annualized dividend and a yield of 2.4%. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s payout ratio is 50.16%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HON shares. JPMorgan Chase & Co. raised their price target on shares of Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Jefferies Financial Group decreased their target price on shares of Honeywell International from $230.00 to $220.00 in a research report on Monday, November 3rd. Morgan Stanley cut their price target on shares of Honeywell International from $245.00 to $235.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 28th. Rothschild & Co Redburn decreased their price objective on Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Honeywell International from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.50.

Insider Transactions at Honeywell International

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the transaction, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at $2,289,807.72. The trade was a 80.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.