Verus Financial Partners Inc. Reduces Stake in Honeywell International Inc. (NASDAQ:HON)

Verus Financial Partners Inc. decreased its position in Honeywell International Inc. (NASDAQ:HON) by 11.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,010 shares of the conglomerate’s stock after selling 129 shares during the quarter. Verus Financial Partners Inc.’s holdings in Honeywell International were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Cordant Inc. acquired a new stake in shares of Honeywell International during the fourth quarter valued at $31,000. Rakuten Securities Inc. purchased a new stake in shares of Honeywell International in the fourth quarter valued at $31,000. Financial Connections Group Inc. acquired a new stake in Honeywell International in the 4th quarter worth about $37,000. TFO Wealth Partners LLC increased its stake in shares of Honeywell International by 105.6% during the 3rd quarter. TFO Wealth Partners LLC now owns 222 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 114 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in shares of Honeywell International by 42.0% in the third quarter. Raleigh Capital Management Inc. now owns 257 shares of the conglomerate’s stock worth $47,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Stock Performance

HON stock traded up $0.82 during midday trading on Thursday, reaching $198.87. The company had a trading volume of 475,057 shares, compared to its average volume of 2,972,950. Honeywell International Inc. has a fifty-two week low of $174.88 and a fifty-two week high of $210.87. The company has a quick ratio of 1.28, a current ratio of 1.66 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $129.50 billion, a PE ratio of 23.13, a P/E/G ratio of 2.26 and a beta of 1.02. The stock has a 50 day moving average price of $197.55 and a 200 day moving average price of $196.94.

Honeywell International (NASDAQ:HON) last released its quarterly earnings results on Thursday, April 25th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.08. Honeywell International had a return on equity of 35.88% and a net margin of 15.52%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.03 billion. During the same quarter in the prior year, the business posted $2.07 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that Honeywell International Inc. will post 9.94 earnings per share for the current year.

Honeywell International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, May 16th. Honeywell International’s dividend payout ratio is currently 50.06%.

Insider Activity

In other news, Director Darius Adamczyk sold 25,500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $197.19, for a total value of $5,028,345.00. Following the sale, the director now owns 183,400 shares of the company’s stock, valued at approximately $36,164,646. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Gregory P. Lewis sold 25,209 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $193.06, for a total transaction of $4,866,849.54. Following the sale, the chief financial officer now directly owns 55,471 shares of the company’s stock, valued at $10,709,231.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Darius Adamczyk sold 25,500 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $197.19, for a total value of $5,028,345.00. Following the sale, the director now directly owns 183,400 shares of the company’s stock, valued at $36,164,646. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HON. Berenberg Bank raised Honeywell International from a “hold” rating to a “buy” rating and boosted their price target for the company from $195.00 to $240.00 in a research report on Wednesday, March 6th. StockNews.com lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Royal Bank of Canada reduced their target price on shares of Honeywell International from $210.00 to $209.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Barclays boosted their price objective on Honeywell International from $230.00 to $232.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $215.00 target price (down from $227.00) on shares of Honeywell International in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $215.71.

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.