Spire Wealth Management Lowers Stock Holdings in Honeywell International Inc. $HON

Spire Wealth Management reduced its position in Honeywell International Inc. (NASDAQ:HON) by 25.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,798 shares of the conglomerate’s stock after selling 1,649 shares during the quarter. Spire Wealth Management’s holdings in Honeywell International were worth $1,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HON. BankPlus Wealth Management LLC grew its position in shares of Honeywell International by 2.2% during the 2nd quarter. BankPlus Wealth Management LLC now owns 1,986 shares of the conglomerate’s stock valued at $463,000 after purchasing an additional 43 shares in the last quarter. Maia Wealth LLC grew its position in Honeywell International by 4.1% during the first quarter. Maia Wealth LLC now owns 1,189 shares of the conglomerate’s stock worth $238,000 after buying an additional 47 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Honeywell International by 1.8% during the second quarter. Capital Advisors Ltd. LLC now owns 2,696 shares of the conglomerate’s stock worth $628,000 after buying an additional 47 shares in the last quarter. Bar Harbor Wealth Management increased its stake in Honeywell International by 0.3% in the 2nd quarter. Bar Harbor Wealth Management now owns 15,192 shares of the conglomerate’s stock worth $3,538,000 after acquiring an additional 47 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC raised its holdings in shares of Honeywell International by 1.1% in the 1st quarter. Kirtland Hills Capital Management LLC now owns 4,424 shares of the conglomerate’s stock valued at $870,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 75.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HON. Wells Fargo & Company boosted their price objective on Honeywell International from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Barclays boosted their price target 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 shares of Honeywell International from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $235.00 to $253.00 in a research report on Monday, October 27th. TD Cowen dropped their price objective on shares of Honeywell International from $260.00 to $250.00 in a report on Tuesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Honeywell International from $271.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $250.25.

Honeywell International Price Performance

Shares of NASDAQ:HON opened at $201.33 on Friday. The company’s fifty day moving average is $211.11 and its 200 day moving average is $218.03. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. Honeywell International Inc. has a 52 week low of $179.36 and a 52 week high of $242.77. The stock has a market cap of $127.82 billion, a PE ratio of 21.21, a PEG ratio of 2.73 and a beta of 1.06.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.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. Research analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be given a $1.19 dividend. The ex-dividend date is Friday, November 14th. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.4%. Honeywell International’s dividend payout ratio is presently 47.63%.

Insider Buying and Selling at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total value of $9,339,375.42. Following the transaction, the chief executive officer owned 10,334 shares in the company, valued at approximately $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.