Newport Trust Co trimmed its position in shares of Honeywell International Inc. (NYSE:HON) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,860,019 shares of the conglomerate’s stock after selling 612,206 shares during the period. Honeywell International makes up about 8.0% of Newport Trust Co’s holdings, making the stock its 4th biggest holding. Newport Trust Co owned 2.50% of Honeywell International worth $3,021,915,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. New England Research & Management Inc. raised its position in Honeywell International by 47.8% in the third quarter. New England Research & Management Inc. now owns 7,887 shares of the conglomerate’s stock valued at $1,334,000 after purchasing an additional 2,550 shares during the period. Montag A & Associates Inc. raised its position in Honeywell International by 10.4% in the third quarter. Montag A & Associates Inc. now owns 17,842 shares of the conglomerate’s stock valued at $3,019,000 after purchasing an additional 1,676 shares during the period. Thompson Investment Management Inc. raised its position in Honeywell International by 6.8% in the third quarter. Thompson Investment Management Inc. now owns 1,860 shares of the conglomerate’s stock valued at $315,000 after purchasing an additional 118 shares during the period. First Trust Advisors LP raised its position in Honeywell International by 14.6% in the third quarter. First Trust Advisors LP now owns 771,541 shares of the conglomerate’s stock valued at $130,545,000 after purchasing an additional 98,496 shares during the period. Finally, Haverford Trust Co. raised its position in Honeywell International by 2.3% in the third quarter. Haverford Trust Co. now owns 392,221 shares of the conglomerate’s stock valued at $66,364,000 after purchasing an additional 8,964 shares during the period. Institutional investors and hedge funds own 76.46% of the company’s stock.
In other news, CEO Rajeev Gautam sold 10,984 shares of Honeywell International stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $163.88, for a total transaction of $1,800,057.92. Following the sale, the chief executive officer now directly owns 28,920 shares of the company’s stock, valued at $4,739,409.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jaime Chico Pardo sold 7,000 shares of Honeywell International stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $165.92, for a total value of $1,161,440.00. Following the sale, the director now directly owns 7,103 shares in the company, valued at $1,178,529.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,133 shares of company stock worth $4,141,655. Corporate insiders own 0.73% of the company’s stock.
Several research analysts have commented on HON shares. Royal Bank of Canada set a $177.00 price objective on Honeywell International and gave the company a “buy” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. raised their price objective on Honeywell International from $178.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Citigroup raised their price objective on Honeywell International from $189.00 to $197.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Credit Suisse Group raised their price objective on Honeywell International from $185.00 to $187.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, ValuEngine lowered Honeywell International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Honeywell International currently has an average rating of “Buy” and an average price target of $185.80.
Shares of NYSE HON traded up $1.55 during midday trading on Friday, reaching $181.21. 1,636,830 shares of the company’s stock were exchanged, compared to its average volume of 2,742,230. Honeywell International Inc. has a 52-week low of $123.48 and a 52-week high of $181.99. The stock has a market capitalization of $129.10 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.08 and a current ratio of 1.32. The business’s fifty day moving average price is $168.54 and its two-hundred day moving average price is $169.54.
Honeywell International (NYSE:HON) last announced its earnings results on Thursday, October 17th. The conglomerate reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.07. Honeywell International had a return on equity of 32.01% and a net margin of 17.06%. The business had revenue of $9.09 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the previous year, the company earned $2.03 earnings per share. The company’s revenue for the quarter was down 15.6% compared to the same quarter last year. Analysts predict that Honeywell International Inc. will post 8.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from Honeywell International’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Thursday, November 14th. Honeywell International’s payout ratio is presently 40.95%.
Honeywell International Profile
Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment supplies products, software, and services for aircrafts and vehicles. This 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 connected solutions and data services for the aftermarket, as well as provides wireless connectivity and management and technical services.
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