FineMark National Bank & Trust Cuts Holdings in Honeywell International Inc. (HON)
FineMark National Bank & Trust decreased its holdings in shares of Honeywell International Inc. (NYSE:HON) by 3.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 100,331 shares of the conglomerate’s stock after selling 3,636 shares during the period. Honeywell International accounts for about 1.0% of FineMark National Bank & Trust’s portfolio, making the stock its 16th largest position. FineMark National Bank & Trust’s holdings in Honeywell International were worth $16,695,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Swiss National Bank increased its position in Honeywell International by 7.1% during the 2nd quarter. Swiss National Bank now owns 2,486,373 shares of the conglomerate’s stock valued at $358,162,000 after purchasing an additional 164,400 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Honeywell International by 10.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,363,644 shares of the conglomerate’s stock valued at $340,483,000 after purchasing an additional 230,252 shares during the period. AGF Investments Inc. increased its position in Honeywell International by 9.7% during the 2nd quarter. AGF Investments Inc. now owns 2,267,571 shares of the conglomerate’s stock valued at $326,644,000 after purchasing an additional 201,003 shares during the period. Investec Asset Management LTD increased its position in Honeywell International by 5.9% during the 2nd quarter. Investec Asset Management LTD now owns 2,174,351 shares of the conglomerate’s stock valued at $313,215,000 after purchasing an additional 120,784 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Honeywell International by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,159,594 shares of the conglomerate’s stock valued at $311,083,000 after purchasing an additional 74,703 shares during the period. 71.42% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on HON. Morgan Stanley began coverage on shares of Honeywell International in a research report on Monday, August 20th. They set an “overweight” rating and a $175.00 target price on the stock. ValuEngine raised shares of Honeywell International from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Credit Suisse Group cut their price objective on shares of Honeywell International from $170.00 to $165.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 23rd. Barclays lifted their price objective on shares of Honeywell International from $176.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, August 24th. Finally, $1 reaffirmed an “outperform” rating and issued a $177.00 price objective (down previously from $184.00) on shares of Honeywell International in a research report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the stock. Honeywell International has an average rating of “Buy” and a consensus price target of $172.90.
Honeywell International (NYSE:HON) last released its earnings results on Friday, October 19th. The conglomerate reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The company had revenue of $10.76 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Honeywell International had a net margin of 6.13% and a return on equity of 33.69%. Honeywell International’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the business earned $1.75 EPS. On average, equities research analysts expect that Honeywell International Inc. will post 7.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 16th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This is a boost from Honeywell International’s previous quarterly dividend of $0.75. This represents a $3.28 dividend on an annualized basis and a yield of 2.18%. Honeywell International’s dividend payout ratio (DPR) is 41.91%.
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About Honeywell International
Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.
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