Honeywell International Inc. (NYSE:HON) Position Reduced by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its position in Honeywell International Inc. (NYSE:HON) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,928 shares of the conglomerate’s stock after selling 1,122 shares during the quarter. CIBC Asset Management Inc’s holdings in Honeywell International were worth $10,195,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Jarislowsky Fraser Ltd lifted its stake in Honeywell International by 53.1% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 14,703 shares of the conglomerate’s stock valued at $2,084,000 after acquiring an additional 5,101 shares in the last quarter. Intrust Bank NA increased its position in shares of Honeywell International by 8.1% during the 3rd quarter. Intrust Bank NA now owns 11,437 shares of the conglomerate’s stock worth $1,622,000 after purchasing an additional 858 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in shares of Honeywell International by 238.5% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 153,080 shares of the conglomerate’s stock worth $21,587,000 after purchasing an additional 107,851 shares during the last quarter. Sei Investments Co. increased its position in shares of Honeywell International by 6.7% during the 3rd quarter. Sei Investments Co. now owns 373,935 shares of the conglomerate’s stock worth $53,002,000 after purchasing an additional 23,467 shares during the last quarter. Finally, Wrapmanager Inc. acquired a new position in shares of Honeywell International during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 76.36% of the company’s stock.

In other news, Director Bradley T. Sheares sold 1,328 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $146.41, for a total value of $194,432.48. Following the completion of the sale, the director now owns 4,002 shares of the company’s stock, valued at $585,932.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Krishna Mikkilineni sold 13,074 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $145.12, for a total value of $1,897,298.88. Following the completion of the sale, the vice president now directly owns 104,998 shares of the company’s stock, valued at approximately $15,237,309.76. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by company insiders.

Several research analysts have weighed in on the company. Royal Bank of Canada lowered Honeywell International from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $163.00 to $158.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Argus boosted their target price on Honeywell International from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Jefferies Group upped their price objective on Honeywell International from $162.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Oppenheimer upped their price objective on Honeywell International from $155.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, December 14th. Finally, Stifel Nicolaus cut their target price on Honeywell International from $171.00 to $169.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $160.14.

Shares of Honeywell International Inc. (HON) traded up $1.15 during mid-day trading on Tuesday, hitting $159.07. The company had a trading volume of 2,343,700 shares, compared to its average volume of 3,282,633. The company has a current ratio of 1.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54. Honeywell International Inc. has a twelve month low of $116.98 and a twelve month high of $159.49. The company has a market cap of $120,810.00, a P/E ratio of 24.10, a P/E/G ratio of 2.43 and a beta of 0.99.

Honeywell International (NYSE:HON) last posted its earnings results on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, meeting the consensus estimate of $1.75. The firm had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $10.05 billion. Honeywell International had a return on equity of 26.26% and a net margin of 12.85%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $1.60 earnings per share. analysts anticipate that Honeywell International Inc. will post 7.1 EPS for the current year.

Honeywell International announced that its board has approved a stock repurchase program on Friday, December 8th that allows the company to buyback $6.50 billion in shares. This buyback authorization allows the conglomerate to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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Honeywell International Profile

Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.

Institutional Ownership by Quarter for Honeywell International (NYSE:HON)

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