ARK Investment Management LLC Cuts Position in Honeywell International Inc. $HON

ARK Investment Management LLC lessened its holdings in Honeywell International Inc. (NASDAQ:HON) by 2.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,752 shares of the conglomerate’s stock after selling 392 shares during the quarter. ARK Investment Management LLC’s holdings in Honeywell International were worth $3,668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HON. Chung Wu Investment Group LLC bought a new position in shares of Honeywell International in the second quarter worth approximately $26,000. Pandora Wealth Inc. bought a new position in shares of Honeywell International in the first quarter worth approximately $33,000. RMG Wealth Management LLC bought a new position in shares of Honeywell International in the second quarter worth approximately $33,000. Activest Wealth Management lifted its stake in shares of Honeywell International by 425.9% in the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after buying an additional 115 shares in the last quarter. Finally, 1248 Management LLC bought a new position in shares of Honeywell International in the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Stock Performance

HON opened at $206.61 on Thursday. The firm has a market cap of $131.18 billion, a P/E ratio of 23.51, a PEG ratio of 2.59 and a beta of 1.06. Honeywell International Inc. has a 1-year low of $179.36 and a 1-year high of $242.77. The company has a 50 day simple moving average of $212.00 and a two-hundred day simple moving average of $216.96. 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 (NASDAQ:HON) last posted its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. The business had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 14.30% and a return on equity of 37.37%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. Equities analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be given a dividend of $1.19 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, November 14th. Honeywell International’s dividend payout ratio (DPR) is currently 51.42%.

Insider Buying and Selling at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the company’s 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 owned 10,334 shares in the company, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Honeywell International from $258.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, July 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Honeywell International in a report on Wednesday, October 8th. Jefferies Financial Group decreased their price objective on shares of Honeywell International from $240.00 to $230.00 and set a “hold” rating for the company in a report on Tuesday, October 7th. Morgan Stanley boosted their price objective on shares of Honeywell International from $225.00 to $245.00 and gave the company an “equal weight” rating in a report on Monday, July 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Honeywell International from $268.00 to $271.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $251.67.

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.