Penobscot Investment Management Company Inc. Sells 3,958 Shares of Honeywell International Inc. $HON

Penobscot Investment Management Company Inc. cut its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 23.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,202 shares of the conglomerate’s stock after selling 3,958 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Honeywell International were worth $2,779,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Chung Wu Investment Group LLC bought a new position in shares of Honeywell International during the second quarter worth approximately $26,000. RMG Wealth Management LLC acquired a new position in Honeywell International in the 2nd quarter valued at $33,000. Howard Hughes Medical Institute acquired a new position in Honeywell International in the 2nd quarter valued at $33,000. Activest Wealth Management increased its position in Honeywell International by 425.9% during the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after buying an additional 115 shares during the period. Finally, Dogwood Wealth Management LLC lifted its holdings in shares of Honeywell International by 143.9% during the second quarter. Dogwood Wealth Management LLC now owns 161 shares of the conglomerate’s stock worth $39,000 after buying an additional 95 shares in the last quarter. Institutional investors own 75.91% of the company’s stock.

Wall Street Analysts Forecast Growth

HON has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Honeywell International from $212.00 to $218.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Robert W. Baird dropped their price objective on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. BNP Paribas upgraded shares of Honeywell International to a “hold” rating in a research report on Wednesday, December 3rd. Wells Fargo & Company lowered their target price on shares of Honeywell International from $230.00 to $218.00 and set an “equal weight” rating on the stock in a report on Friday, November 14th. Finally, Barclays cut their price target on Honeywell International from $269.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, December 24th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $235.58.

Honeywell International Stock Performance

Shares of Honeywell International stock opened at $195.88 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. The company has a market cap of $124.36 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95. The company has a 50 day moving average of $196.13 and a 200-day moving average of $211.32. Honeywell International Inc. has a 1-year low of $169.21 and a 1-year high of $228.04.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business had revenue of $8.95 billion for 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. As a group, equities research analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Company Profile

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.