Kestra Investment Management LLC Lowers Stock Holdings in Honeywell International Inc. $HON

Kestra Investment Management LLC cut its position in Honeywell International Inc. (NASDAQ:HON) by 67.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,669 shares of the conglomerate’s stock after selling 3,389 shares during the quarter. Kestra Investment Management LLC’s holdings in Honeywell International were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of HON. Rexford Capital Inc. acquired a new position in Honeywell International in the 2nd quarter valued at about $527,000. Public Sector Pension Investment Board grew its holdings in shares of Honeywell International by 7.0% in the second quarter. Public Sector Pension Investment Board now owns 146,038 shares of the conglomerate’s stock valued at $34,009,000 after purchasing an additional 9,564 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Honeywell International by 48.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 374,410 shares of the conglomerate’s stock valued at $87,324,000 after purchasing an additional 121,572 shares in the last quarter. MUFG Securities EMEA plc increased its stake in Honeywell International by 22.2% during the 2nd quarter. MUFG Securities EMEA plc now owns 559,898 shares of the conglomerate’s stock worth $130,389,000 after buying an additional 101,898 shares during the period. Finally, Brooks Moore & Associates Inc. lifted its holdings in Honeywell International by 2.1% during the 2nd quarter. Brooks Moore & Associates Inc. now owns 18,975 shares of the conglomerate’s stock worth $4,219,000 after buying an additional 382 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company’s stock.

Honeywell International Trading Up 2.0%

NASDAQ:HON opened at $197.45 on Tuesday. Honeywell International Inc. has a 1 year low of $169.21 and a 1 year high of $228.04. The stock has a market cap of $125.36 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.59 and a beta of 0.96. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36. The stock has a 50-day simple moving average of $199.04 and a 200-day simple moving average of $214.07.

Honeywell International (NASDAQ:HON) last issued its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. The business had revenue of $8.95 billion for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.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 anticipate that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 14th were given a dividend of $1.19 per share. The ex-dividend date was Friday, November 14th. This represents a $4.76 annualized dividend and a dividend yield of 2.4%. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s payout ratio is presently 50.16%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Honeywell International in a research note on Monday, December 1st. BNP Paribas Exane started coverage on Honeywell International in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $195.00 target price for the company. Bank of America reaffirmed an “underperform” rating and issued a $205.00 price target (down previously from $265.00) on shares of Honeywell International in a research report on Tuesday, November 18th. Wells Fargo & Company decreased their price objective on Honeywell International from $230.00 to $218.00 and set an “equal weight” rating for the company in a research note on Friday, November 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $236.59.

Honeywell International Company 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.