Honeywell International Inc. $HON Stake Cut by Carnegie Investment Counsel

Carnegie Investment Counsel cut its position in shares of Honeywell International Inc. (NASDAQ:HON) by 8.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,204 shares of the conglomerate’s stock after selling 3,408 shares during the quarter. Carnegie Investment Counsel’s holdings in Honeywell International were worth $9,130,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HON. Chung Wu Investment Group LLC bought a new position in Honeywell International during the second quarter worth $26,000. Pandora Wealth Inc. bought a new position in Honeywell International during the first quarter worth $33,000. RMG Wealth Management LLC bought a new position in Honeywell International during the second quarter worth $33,000. Activest Wealth Management increased its position in Honeywell International by 425.9% in the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after buying an additional 115 shares during the period. Finally, 1248 Management LLC acquired a new stake in Honeywell International in the first quarter worth $38,000. 75.91% of the stock is currently owned by institutional investors.

Honeywell International Trading Down 2.1%

Shares of HON stock opened at $216.14 on Friday. The stock has a 50-day simple moving average of $212.04 and a 200 day simple moving average of $217.42. Honeywell International Inc. has a fifty-two week low of $179.36 and a fifty-two week high of $242.77. The stock has a market capitalization of $137.23 billion, a P/E ratio of 22.78, a P/E/G ratio of 2.70 and a beta of 1.06. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.70.

Honeywell International (NASDAQ:HON) last announced its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The business had revenue of $8.95 billion during the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. On average, sell-side analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be paid a dividend of $1.19 per share. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International’s dividend payout ratio (DPR) is 51.42%.

Insiders Place Their Bets

In related news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the completion of the transaction, the chief executive officer owned 10,334 shares of the company’s stock, valued at $2,289,807.72. This trade represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HON has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on Honeywell International from $240.00 to $230.00 and set a “hold” rating on the stock in a research report on Tuesday, October 7th. JPMorgan Chase & Co. increased their target price on Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank Of Canada dropped their target price on Honeywell International from $253.00 to $235.00 and set a “sector perform” rating on the stock in a research report on Friday. Citigroup increased their target price on Honeywell International from $265.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday. Finally, TD Cowen lowered their price target on Honeywell International from $260.00 to $250.00 in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.60.

About Honeywell International

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.