Spinnaker Trust Raises Position in Honeywell International Inc. $HON

Spinnaker Trust raised its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,975 shares of the conglomerate’s stock after acquiring an additional 377 shares during the quarter. Spinnaker Trust’s holdings in Honeywell International were worth $2,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of HON. Nuveen LLC purchased a new position in shares of Honeywell International during the 1st quarter valued at $1,150,929,000. Wellington Management Group LLP lifted its stake in shares of Honeywell International by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock valued at $3,335,476,000 after buying an additional 1,293,137 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Honeywell International by 64.6% during the 1st quarter. Alliancebernstein L.P. now owns 2,652,344 shares of the conglomerate’s stock valued at $561,634,000 after buying an additional 1,041,273 shares in the last quarter. Vista Cima Wealth Management LLC purchased a new position in shares of Honeywell International during the 1st quarter valued at $164,000. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Honeywell International by 592.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 867,665 shares of the conglomerate’s stock valued at $183,728,000 after buying an additional 742,281 shares in the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HON. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Honeywell International from $271.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of Honeywell International from $212.00 to $218.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Robert W. Baird reduced their price target on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Jefferies Financial Group reduced their price target on shares of Honeywell International from $240.00 to $230.00 and set a “hold” rating on the stock in a report on Tuesday, October 7th. Finally, Wells Fargo & Company lifted their price target on shares of Honeywell International from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $250.25.

Insider Buying and Selling

In related news, CEO Lucian Boldea sold 42,149 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 10,334 shares in the company, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Honeywell International Stock Performance

Honeywell International stock opened at $212.89 on Thursday. The company’s 50-day moving average price is $211.89 and its 200-day moving average price is $218.15. Honeywell International Inc. has a twelve month low of $179.36 and a twelve month high of $242.77. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. The company has a market cap of $135.16 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.75 and a beta of 1.06.

Honeywell International (NASDAQ:HON) last posted its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. 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. On average, equities research analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, November 14th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s payout ratio is currently 50.16%.

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.