Baird Financial Group Inc. Sells 18,097 Shares of Honeywell International Inc. $HON

Baird Financial Group Inc. reduced its position in shares of Honeywell International Inc. (NASDAQ:HON) by 6.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 269,788 shares of the conglomerate’s stock after selling 18,097 shares during the period. Baird Financial Group Inc.’s holdings in Honeywell International were worth $62,828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HON. Nuveen LLC purchased a new position in Honeywell International during the first quarter valued at approximately $1,150,929,000. Laurel Wealth Advisors LLC grew its position in shares of Honeywell International by 23,503.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,716,532 shares of the conglomerate’s stock worth $865,506,000 after buying an additional 3,700,786 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Honeywell International by 8.9% in the 1st quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock worth $3,335,476,000 after purchasing an additional 1,293,137 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Honeywell International by 64.6% in the 1st quarter. Alliancebernstein L.P. now owns 2,652,344 shares of the conglomerate’s stock worth $561,634,000 after purchasing an additional 1,041,273 shares in the last quarter. Finally, Vista Cima Wealth Management LLC acquired a new position in shares of Honeywell International during the first quarter valued at about $164,000. 75.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HON. Jefferies Financial Group lowered their target price on shares of Honeywell International from $230.00 to $220.00 in a research note on Monday, November 3rd. Citigroup lifted their price objective on shares of Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Argus cut their target price on Honeywell International from $250.00 to $225.00 in a research report on Friday, November 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Honeywell International in a research note on Monday. Finally, TD Cowen dropped their price target on Honeywell International from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Honeywell International currently has an average rating of “Moderate Buy” and an average target price of $236.71.

Honeywell International Trading Down 0.6%

Shares of NASDAQ:HON opened at $192.23 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70. Honeywell International Inc. has a 12-month low of $169.21 and a 12-month high of $228.04. The business has a 50 day moving average of $201.37 and a two-hundred day moving average of $215.71. The company has a market capitalization of $122.04 billion, a PE ratio of 20.26, a PEG ratio of 2.63 and a beta of 0.96.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The firm had revenue of $8.95 billion for 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 and its FY 2023 guidance at 9.100-9.200 EPS. As a group, analysts forecast 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 given a dividend of $1.19 per share. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date is Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.5%. Honeywell International’s payout ratio is 50.16%.

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.