Palisade Asset Management LLC reduced its position in Honeywell International Inc. (NYSE:HON) by 4.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 20,730 shares of the conglomerate’s stock after selling 995 shares during the period. Palisade Asset Management LLC’s holdings in Honeywell International were worth $3,294,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Cordasco Financial Network purchased a new position in Honeywell International during the 1st quarter valued at about $25,000. Capital Financial Planning LLC purchased a new position in Honeywell International during the 4th quarter valued at about $26,000. Canton Hathaway LLC grew its holdings in Honeywell International by 289.1% during the 1st quarter. Canton Hathaway LLC now owns 214 shares of the conglomerate’s stock valued at $34,000 after buying an additional 159 shares in the last quarter. Riverview Trust Co purchased a new position in Honeywell International during the 4th quarter valued at about $31,000. Finally, Semmax Financial Advisors Inc. purchased a new position in Honeywell International during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 75.83% of the company’s stock.
A number of research firms have weighed in on HON. Credit Suisse Group lifted their target price on Honeywell International from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Tuesday, April 23rd. Zacks Investment Research raised Honeywell International from a “hold” rating to a “buy” rating and set a $181.00 target price for the company in a report on Monday, April 8th. UBS Group reissued a “top pick” rating on shares of Honeywell International in a report on Thursday, January 10th. Deutsche Bank boosted their price objective on Honeywell International to $160.00 and gave the stock a “buy” rating in a report on Monday, February 4th. Finally, Morgan Stanley boosted their price objective on Honeywell International from $165.00 to $183.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $175.20.
Honeywell International (NYSE:HON) last issued its quarterly earnings data on Thursday, April 18th. The conglomerate reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.09. The company had revenue of $8.88 billion during the quarter, compared to analyst estimates of $8.63 billion. Honeywell International had a return on equity of 32.46% and a net margin of 16.73%. Honeywell International’s revenue was down 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.95 earnings per share. Sell-side analysts anticipate that Honeywell International Inc. will post 8.1 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, May 23rd. Honeywell International’s dividend payout ratio is currently 40.95%.
In other Honeywell International news, insider Timothy O. Mahoney sold 73,352 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $154.30, for a total value of $11,318,213.60. Following the completion of the sale, the insider now owns 305,505 shares of the company’s stock, valued at $47,139,421.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is owned by corporate insiders.
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About Honeywell International
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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