Wellington Management Group LLP Decreases Stock Position in Honeywell International Inc. $HON

Wellington Management Group LLP lessened its position in shares of Honeywell International Inc. (NASDAQ:HON) by 14.2% during the third quarter, Holdings Channel reports. The institutional investor owned 13,090,401 shares of the conglomerate’s stock after selling 2,158,178 shares during the quarter. Wellington Management Group LLP’s holdings in Honeywell International were worth $2,755,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. First National Trust Co boosted its position in Honeywell International by 9.4% during the third quarter. First National Trust Co now owns 79,086 shares of the conglomerate’s stock worth $16,648,000 after purchasing an additional 6,803 shares during the period. Lockheed Martin Investment Management Co. bought a new stake in shares of Honeywell International in the third quarter valued at approximately $4,147,000. Managed Asset Portfolios LLC raised its position in shares of Honeywell International by 2.3% in the second quarter. Managed Asset Portfolios LLC now owns 95,833 shares of the conglomerate’s stock valued at $22,317,000 after purchasing an additional 2,154 shares during the period. Federated Hermes Inc. lifted its stake in shares of Honeywell International by 72.5% during the 3rd quarter. Federated Hermes Inc. now owns 9,663 shares of the conglomerate’s stock valued at $2,034,000 after buying an additional 4,061 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Honeywell International during the 2nd quarter valued at approximately $1,943,000. Institutional investors own 75.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on HON. Daiwa Securities Group lifted their price objective on shares of Honeywell International from $230.00 to $240.00 in a research note on Tuesday, February 3rd. Mizuho dropped their target price on Honeywell International from $250.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Honeywell International in a report on Monday, December 29th. Sanford C. Bernstein set a $255.00 price target on Honeywell International in a research report on Friday, January 16th. Finally, Evercore boosted their price objective on Honeywell International from $255.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Honeywell International currently has an average rating of “Moderate Buy” and a consensus target price of $251.65.

Honeywell International Stock Performance

Honeywell International stock opened at $234.50 on Friday. Honeywell International Inc. has a 1-year low of $169.21 and a 1-year high of $248.18. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $149.07 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 3.38 and a beta of 0.92. The firm’s 50 day simple moving average is $229.78 and its 200 day simple moving average is $212.41.

Honeywell International (NASDAQ:HON) last posted its earnings results on Thursday, January 29th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.05. Honeywell International had a net margin of 12.74% and a return on equity of 40.64%. The business had revenue of $10.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the company posted $2.47 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, February 27th. Honeywell International’s dividend payout ratio (DPR) is 59.57%.

Insider Buying and Selling at Honeywell International

In related news, Director D Scott Davis sold 2,367 shares of Honeywell International stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $240.00, for a total transaction of $568,080.00. Following the completion of the sale, the director owned 31,081 shares of the company’s stock, valued at approximately $7,459,440. This trade represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert D. Mailloux sold 5,274 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $239.00, for a total value of $1,260,486.00. Following the transaction, the vice president owned 4,803 shares of the company’s stock, valued at approximately $1,147,917. The trade was a 52.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,190 shares of company stock valued at $4,244,287 in the last three months. 0.20% of the stock is owned by corporate insiders.

About Honeywell International

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.