Primecap Management Co. CA Reduces Stock Position in Honeywell International Inc. (NASDAQ:HON)

Primecap Management Co. CA reduced its holdings in Honeywell International Inc. (NASDAQ:HON) by 10.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,930 shares of the conglomerate’s stock after selling 23,070 shares during the period. Primecap Management Co. CA’s holdings in Honeywell International were worth $44,710,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in HON. Raymond James Financial Inc. purchased a new position in shares of Honeywell International in the 4th quarter worth $435,786,000. ING Groep NV boosted its stake in shares of Honeywell International by 884.0% during the 4th quarter. ING Groep NV now owns 1,752,472 shares of the conglomerate’s stock worth $395,866,000 after purchasing an additional 1,574,376 shares during the period. Wellington Management Group LLP boosted its stake in shares of Honeywell International by 8.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,826,700 shares of the conglomerate’s stock worth $3,684,957,000 after purchasing an additional 1,376,479 shares during the period. Cibc World Markets Corp boosted its position in Honeywell International by 411.8% in the 4th quarter. Cibc World Markets Corp now owns 1,265,358 shares of the conglomerate’s stock valued at $285,832,000 after buying an additional 1,018,099 shares during the period. Finally, Cibc World Market Inc. boosted its position in Honeywell International by 320.5% in the 4th quarter. Cibc World Market Inc. now owns 858,336 shares of the conglomerate’s stock valued at $193,890,000 after buying an additional 654,207 shares during the period. 75.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Honeywell International from a “hold” rating to a “buy” rating and boosted their price objective for the company from $236.00 to $260.00 in a research report on Friday, February 7th. Hsbc Global Res raised shares of Honeywell International to a “strong-buy” rating in a research report on Wednesday, December 11th. Barclays lowered their price objective on shares of Honeywell International from $260.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Wells Fargo & Company lowered their price objective on shares of Honeywell International from $240.00 to $220.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Finally, Morgan Stanley boosted their price objective on shares of Honeywell International from $210.00 to $217.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $249.38.

Insiders Place Their Bets

In other news, VP Anne T. Madden sold 28,885 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $207.89, for a total value of $6,004,902.65. Following the sale, the vice president now owns 41,580 shares in the company, valued at $8,644,066.20. This represents a 40.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Honeywell International Trading Down 0.3 %

NASDAQ:HON opened at $209.74 on Wednesday. Honeywell International Inc. has a 52 week low of $189.75 and a 52 week high of $242.77. The firm has a 50 day moving average of $214.60 and a 200 day moving average of $216.61. The company has a quick ratio of 1.01, a current ratio of 1.31 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $136.31 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 2.51 and a beta of 1.08.

Honeywell International (NASDAQ:HON) last posted its earnings results on Thursday, February 6th. The conglomerate reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.10. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. As a group, sell-side analysts anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $1.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.16%. Honeywell International’s dividend payout ratio is currently 51.89%.

Honeywell International Company 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.