American Trust Reduces Position in Honeywell International Inc. (NASDAQ:HON)

American Trust trimmed its stake in Honeywell International Inc. (NASDAQ:HON) by 6.9% in the second quarter, HoldingsChannel.com reports. The fund owned 31,021 shares of the conglomerate’s stock after selling 2,298 shares during the quarter. American Trust’s holdings in Honeywell International were worth $6,624,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV lifted its stake in shares of Honeywell International by 6.4% during the 4th quarter. KBC Group NV now owns 45,002 shares of the conglomerate’s stock worth $9,437,000 after purchasing an additional 2,690 shares during the period. Belpointe Asset Management LLC boosted its stake in Honeywell International by 5.0% in the 4th quarter. Belpointe Asset Management LLC now owns 6,158 shares of the conglomerate’s stock worth $1,292,000 after buying an additional 293 shares during the last quarter. Edge Capital Group LLC grew its holdings in Honeywell International by 2.4% in the 4th quarter. Edge Capital Group LLC now owns 21,163 shares of the conglomerate’s stock valued at $4,438,000 after buying an additional 506 shares during the period. Lake Street Advisors Group LLC acquired a new position in shares of Honeywell International during the 4th quarter valued at about $939,000. Finally, Capital Research Global Investors lifted its holdings in shares of Honeywell International by 20.4% during the 4th quarter. Capital Research Global Investors now owns 3,189,925 shares of the conglomerate’s stock worth $668,959,000 after acquiring an additional 539,644 shares during the period. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HON. UBS Group upgraded shares of Honeywell International from a “sell” rating to a “neutral” rating and boosted their target price for the company from $175.00 to $215.00 in a report on Monday, June 10th. StockNews.com cut Honeywell International from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $214.00 price objective on shares of Honeywell International in a research note on Thursday, September 26th. Citigroup increased their target price on shares of Honeywell International from $243.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Finally, Morgan Stanley assumed coverage on shares of Honeywell International in a research report on Friday, September 6th. They set an “equal weight” rating and a $210.00 price target on the stock. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $223.13.

Honeywell International Stock Down 0.3 %

Shares of NASDAQ:HON opened at $206.07 on Wednesday. The company has a market capitalization of $134.19 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 2.32 and a beta of 1.03. The company has a 50 day moving average of $202.94 and a two-hundred day moving average of $203.81. Honeywell International Inc. has a 52-week low of $174.88 and a 52-week high of $220.79. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 1.19.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.07. The firm had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.41 billion. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.23 EPS. As a group, analysts forecast that Honeywell International Inc. will post 10.11 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.13 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Honeywell International’s previous quarterly dividend of $1.08. This represents a $4.52 annualized dividend and a yield of 2.19%. Honeywell International’s payout ratio is currently 52.38%.

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.