Patten Group Inc. Lowers Stake in Honeywell International Inc. $HON

Patten Group Inc. lessened its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,732 shares of the conglomerate’s stock after selling 403 shares during the period. Patten Group Inc.’s holdings in Honeywell International were worth $2,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HON. Chung Wu Investment Group LLC purchased a new stake in shares of Honeywell International during the 2nd quarter valued at $26,000. Pandora Wealth Inc. purchased a new stake in shares of Honeywell International during the 1st quarter valued at $33,000. RMG Wealth Management LLC purchased a new stake in shares of Honeywell International during the 2nd quarter valued at $33,000. Activest Wealth Management lifted its holdings in shares of Honeywell International by 425.9% during the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in shares of Honeywell International during the 1st quarter valued at $38,000. 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 several analyst reports. TD Cowen decreased their price objective on Honeywell International from $260.00 to $250.00 in a report on Tuesday, October 7th. Wells Fargo & Company reduced their target price on Honeywell International from $230.00 to $220.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Honeywell International in a research note on Wednesday, October 8th. Barclays raised their target price on Honeywell International from $258.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley raised their target price on Honeywell International from $225.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $251.67.

Insider Buying and Selling at Honeywell International

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction dated Wednesday, August 27th. The stock was 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 trade represents a 80.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company’s stock.

Honeywell International Stock Performance

NASDAQ HON opened at $209.08 on Wednesday. The stock has a 50-day simple moving average of $212.27 and a two-hundred day simple moving average of $217.03. The firm has a market capitalization of $132.74 billion, a P/E ratio of 23.79, a PEG ratio of 2.56 and a beta of 1.06. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.97 and a current ratio of 1.29.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data 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 return on equity of 37.37% and a net margin of 14.30%. 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, equities analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be paid a dividend of $1.19 per share. 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. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s dividend payout ratio (DPR) is 51.42%.

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.