Bank Pictet & Cie Europe AG Lowers Position in Honeywell International Inc. $HON

Bank Pictet & Cie Europe AG trimmed its position in shares of Honeywell International Inc. (NASDAQ:HON) by 60.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 59,302 shares of the conglomerate’s stock after selling 89,383 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Honeywell International were worth $12,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Honeywell International by 9.1% in the fourth quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate’s stock valued at $4,302,000 after buying an additional 1,582 shares in the last quarter. Quarry LP acquired a new stake in shares of Honeywell International during the 1st quarter valued at about $41,000. Federation des caisses Desjardins du Quebec increased its stake in shares of Honeywell International by 18.7% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 24,755 shares of the conglomerate’s stock valued at $5,242,000 after purchasing an additional 3,908 shares in the last quarter. Amundi increased its stake in shares of Honeywell International by 30.2% in 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 in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Honeywell International by 4.7% in the 1st quarter. Advisors Asset Management Inc. now owns 18,009 shares of the conglomerate’s stock worth $3,813,000 after purchasing an additional 815 shares during the period. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Stock Performance

NASDAQ:HON opened at $195.09 on Friday. The company has a market cap of $123.86 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.84 and a beta of 0.95. Honeywell International Inc. has a twelve month low of $169.21 and a twelve month high of $228.04. The company’s 50-day moving average price is $196.54 and its 200-day moving average price is $211.59. 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 (NASDAQ:HON) last released its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The company had revenue of $8.95 billion during the quarter. 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. On average, sell-side analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on HON. Royal Bank Of Canada raised Honeywell International from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $235.00 to $253.00 in a report on Monday, October 27th. Rothschild & Co Redburn dropped their price target on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. HSBC cut their price target on shares of Honeywell International from $290.00 to $266.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. TD Cowen decreased their price objective on shares of Honeywell International from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Finally, BNP Paribas Exane assumed coverage on shares of Honeywell International in a research report on Wednesday, December 3rd. They issued a “neutral” rating and a $195.00 target price on the stock. Nine 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 stock. According to MarketBeat, Honeywell International currently has a consensus rating of “Hold” and an average price target of $235.58.

About Honeywell International

Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.