Westbourne Investment Advisors Inc. Trims Stock Position in Honeywell International Inc. $HON

Westbourne Investment Advisors Inc. cut its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 12.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,305 shares of the conglomerate’s stock after selling 340 shares during the period. Westbourne Investment Advisors Inc.’s holdings in Honeywell International were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC purchased a new stake in shares of Honeywell International in the second quarter worth about $26,000. RMG Wealth Management LLC acquired a new position in Honeywell International in the second quarter valued at approximately $33,000. Activest Wealth Management boosted its position in Honeywell International by 425.9% in the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in shares of Honeywell International during the 1st quarter worth approximately $33,000. Finally, Dogwood Wealth Management LLC grew its stake in shares of Honeywell International by 143.9% during the 2nd quarter. Dogwood Wealth Management LLC now owns 161 shares of the conglomerate’s stock worth $39,000 after purchasing an additional 95 shares during the period. 75.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the completion of the transaction, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Honeywell International Stock Up 1.0%

HON stock opened at $196.07 on Tuesday. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week 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 firm has a 50-day simple moving average of $208.16 and a 200-day simple moving average of $218.30. The stock has a market capitalization of $124.48 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.73 and a beta of 1.07.

Honeywell International (NASDAQ:HON) last issued its quarterly 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. Equities analysts forecast that Honeywell International Inc. will post 10.34 earnings per share 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 given a dividend of $1.19 per share. The ex-dividend date is Friday, November 14th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a dividend yield of 2.4%. Honeywell International’s dividend payout ratio (DPR) is presently 50.16%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HON shares. Robert W. Baird decreased their target price on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Jefferies Financial Group cut their price objective on shares of Honeywell International from $230.00 to $220.00 in a report on Monday, November 3rd. Barclays increased their target price on shares of Honeywell International from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Royal Bank Of Canada upgraded Honeywell International from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $235.00 to $253.00 in a research report on Monday, October 27th. Finally, Rothschild & Co Redburn reduced their price target on Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.00.

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.