Logan Capital Management Inc. Sells 2,856 Shares of Honeywell International Inc. $HON

Logan Capital Management Inc. decreased its stake in Honeywell International Inc. (NASDAQ:HON) by 10.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,100 shares of the conglomerate’s stock after selling 2,856 shares during the period. Logan Capital Management Inc.’s holdings in Honeywell International were worth $5,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in HON. Red Door Wealth Management LLC increased its stake in Honeywell International by 2.6% in the first quarter. Red Door Wealth Management LLC now owns 29,090 shares of the conglomerate’s stock valued at $6,160,000 after acquiring an additional 736 shares during the last quarter. Amundi increased its position in shares of Honeywell International by 30.2% during the 1st quarter. Amundi now owns 519,882 shares of the conglomerate’s stock valued at $107,450,000 after purchasing an additional 120,706 shares during the last quarter. Triton Financial Group Inc bought a new position in shares of Honeywell International during the 2nd quarter valued at about $1,001,000. Spinnaker Trust raised its holdings in shares of Honeywell International by 2.4% during the 1st quarter. Spinnaker Trust now owns 11,598 shares of the conglomerate’s stock valued at $2,456,000 after buying an additional 276 shares in the last quarter. Finally, Baxter Bros Inc. lifted its position in Honeywell International by 14.6% in the 2nd quarter. Baxter Bros Inc. now owns 35,733 shares of the conglomerate’s stock worth $8,321,000 after buying an additional 4,543 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Price Performance

Shares of Honeywell International stock opened at $215.07 on Tuesday. The company’s fifty day simple moving average is $212.01 and its two-hundred day simple moving average is $217.90. Honeywell International Inc. has a 12-month low of $179.36 and a 12-month high of $242.77. The firm has a market cap of $136.55 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.64 and a beta of 1.06. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The firm had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS. FY 2023 guidance at 9.100-9.200 EPS. As a group, equities analysts expect that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 2.2%. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Friday, November 14th. Honeywell International’s payout ratio is presently 47.63%.

Analyst Ratings Changes

A number of research analysts have commented on HON shares. Royal Bank Of Canada upgraded shares of Honeywell International from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $235.00 to $253.00 in a research report on Monday. Barclays upped their price objective on shares of Honeywell International from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Honeywell International from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday. Robert W. Baird cut their price target on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Finally, Jefferies Financial Group decreased their price objective on Honeywell International from $240.00 to $230.00 and set a “hold” rating on the stock in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $250.88.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Honeywell International 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.