SouthState Bank Corp Sells 13,196 Shares of Honeywell International Inc. $HON

SouthState Bank Corp reduced its position in Honeywell International Inc. (NASDAQ:HON) by 53.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 11,632 shares of the conglomerate’s stock after selling 13,196 shares during the period. SouthState Bank Corp’s holdings in Honeywell International were worth $2,449,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC lifted its position in Honeywell International by 491.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 142 shares of the conglomerate’s stock worth $30,000 after buying an additional 118 shares during the last quarter. Activest Wealth Management boosted its stake in shares of Honeywell International by 425.9% during the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after purchasing an additional 115 shares during the period. Howard Hughes Medical Institute bought a new position in Honeywell International during the 2nd quarter valued at about $33,000. Cedar Mountain Advisors LLC grew its holdings in Honeywell International by 116.7% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 156 shares of the conglomerate’s stock valued at $33,000 after purchasing an additional 84 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its position in Honeywell International by 833.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 168 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Insider Activity at Honeywell International

In other news, VP Robert D. Mailloux sold 10,549 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $229.00, for a total value of $2,415,721.00. Following the completion of the sale, the vice president owned 4,803 shares of the company’s stock, valued at $1,099,887. This trade represents a 68.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Honeywell International Trading Down 0.6%

Shares of NASDAQ HON opened at $233.85 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.32 and a quick ratio of 1.05. The stock has a market capitalization of $148.47 billion, a P/E ratio of 29.27, a price-to-earnings-growth ratio of 3.42 and a beta of 0.94. Honeywell International Inc. has a 1-year low of $169.21 and a 1-year high of $236.34. The business has a fifty day moving average price of $205.84 and a 200 day moving average price of $208.91.

Honeywell International (NASDAQ:HON) last released its quarterly earnings results on Thursday, January 29th. The conglomerate reported $2.59 EPS for the quarter, beating the consensus estimate of $2.54 by $0.05. The business had revenue of $10.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Honeywell International had a net margin of 12.74% and a return on equity of 40.40%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.47 earnings per share. Equities research analysts expect that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of Honeywell International from $215.00 to $235.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of Honeywell International to a “hold” rating in a research note on Saturday, January 3rd. Bank of America reaffirmed an “underperform” rating and set a $205.00 price target (down previously from $265.00) on shares of Honeywell International in a research note on Tuesday, November 18th. Daiwa Capital Markets increased their price objective on Honeywell International from $230.00 to $240.00 in a research note on Tuesday. Finally, Vertical Research lowered Honeywell International from a “buy” rating to a “hold” rating and set a $220.00 target price for the company. in a research report on Monday, January 5th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $244.50.

Honeywell International Profile

Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.