Griffin Asset Management Inc. Lowers Stock Holdings in Honeywell International Inc. $HON

Griffin Asset Management Inc. trimmed its stake in Honeywell International Inc. (NASDAQ:HON) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,344 shares of the conglomerate’s stock after selling 563 shares during the period. Honeywell International comprises 1.3% of Griffin Asset Management Inc.’s holdings, making the stock its 22nd biggest holding. Griffin Asset Management Inc.’s holdings in Honeywell International were worth $11,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Red Door Wealth Management LLC boosted its position in Honeywell International by 2.6% in the 1st quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate’s stock valued at $6,160,000 after buying an additional 736 shares during the period. Amundi boosted its position in Honeywell International by 30.2% in the 1st quarter. Amundi now owns 519,882 shares of the conglomerate’s stock valued at $107,450,000 after buying an additional 120,706 shares during the period. Spinnaker Trust boosted its position in Honeywell International by 2.4% in the 1st quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate’s stock valued at $2,456,000 after buying an additional 276 shares during the period. Integrated Wealth Concepts LLC boosted its position in Honeywell International by 11.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 28,502 shares of the conglomerate’s stock valued at $6,035,000 after buying an additional 2,915 shares during the period. Finally, Baxter Bros Inc. boosted its position in Honeywell International by 14.6% in the 2nd quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate’s stock valued at $8,321,000 after buying an additional 4,543 shares during the period. 75.91% of the stock is owned by hedge funds and other institutional investors.

Honeywell International Trading Down 1.6%

NASDAQ HON opened at $200.91 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.29 and a debt-to-equity ratio of 1.81. The firm has a market cap of $127.56 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.25 and a beta of 1.06. The company has a 50 day moving average price of $214.11 and a 200 day moving average price of $217.25. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The firm 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. As a group, sell-side analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be paid a dividend of $1.19 per share. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date is Friday, November 14th. This represents a $4.76 annualized dividend and a dividend yield of 2.4%. Honeywell International’s dividend payout ratio (DPR) is presently 51.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HON shares. 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 research report on Monday, July 28th. Jefferies Financial Group reduced their price target 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. Weiss Ratings restated a “buy (b-)” rating on shares of Honeywell International in a report on Wednesday, October 8th. Wells Fargo & Company reduced their price target on shares of Honeywell International from $230.00 to $220.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. Finally, Barclays boosted their price target 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. One research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $251.80.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the business’s stock in a transaction that occurred 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 $2,289,807.72. The trade was a 80.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by company insiders.

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.