Penobscot Investment Management Company Inc. Cuts Stake in Honeywell International Inc. (NASDAQ:HON)

Penobscot Investment Management Company Inc. cut its stake in Honeywell International Inc. (NASDAQ:HON) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,197 shares of the conglomerate’s stock after selling 1,657 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Honeywell International were worth $3,853,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HON. Mainstream Capital Management LLC acquired a new position in Honeywell International in the fourth quarter worth about $25,000. Avalon Trust Co grew its stake in Honeywell International by 166.7% in the fourth quarter. Avalon Trust Co now owns 120 shares of the conglomerate’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in Honeywell International in the fourth quarter worth about $29,000. Accredited Wealth Management LLC acquired a new position in Honeywell International in the fourth quarter worth about $34,000. Finally, Curio Wealth LLC acquired a new position in Honeywell International in the fourth quarter worth about $35,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HON. Bank of America upgraded Honeywell International from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Wednesday, May 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $226.00 price target on shares of Honeywell International in a research note on Wednesday. Mizuho lifted their price target on Honeywell International from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Wall Street Zen upgraded Honeywell International from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Finally, Barclays lifted their target price on Honeywell International from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Wednesday, June 18th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Honeywell International currently has an average rating of “Moderate Buy” and a consensus target price of $249.21.

Honeywell International Price Performance

Shares of NASDAQ:HON opened at $221.79 on Thursday. Honeywell International Inc. has a 12 month low of $179.36 and a 12 month high of $242.77. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.25 and a quick ratio of 0.95. The stock’s 50 day moving average price is $217.70 and its 200 day moving average price is $215.79. The stock has a market cap of $142.54 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 2.62 and a beta of 1.08.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Tuesday, April 29th. The conglomerate reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.30. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.59 billion. Honeywell International had a return on equity of 36.19% and a net margin of 14.51%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 earnings per share. Equities research analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 16th were issued a $1.13 dividend. The ex-dividend date was Friday, May 16th. This represents a $4.52 annualized dividend and a dividend yield of 2.04%. Honeywell International’s dividend payout ratio is currently 51.95%.

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.