Birchbrook Inc. Reduces Stock Holdings in Honeywell International Inc. $HON

Birchbrook Inc. lessened its position in shares of Honeywell International Inc. (NASDAQ:HON) by 24.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,362 shares of the conglomerate’s stock after selling 1,403 shares during the quarter. Birchbrook Inc.’s holdings in Honeywell International were worth $1,016,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC acquired a new stake in shares of Honeywell International in the second quarter valued at approximately $26,000. Pandora Wealth Inc. acquired a new stake in Honeywell International during the 1st quarter valued at $33,000. RMG Wealth Management LLC purchased a new position in Honeywell International during the second quarter worth $33,000. Activest Wealth Management raised its holdings in shares of Honeywell International by 425.9% in the second quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in shares of Honeywell International in the first quarter valued at $38,000. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Honeywell International Stock Performance

Shares of NASDAQ:HON opened at $191.45 on Wednesday. The business has a 50-day moving average of $206.13 and a two-hundred day moving average of $217.89. The firm has a market capitalization of $121.55 billion, a PE ratio of 20.17, a P/E/G ratio of 2.73 and a beta of 1.07. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04. Honeywell International Inc. has a 12 month low of $169.21 and a 12 month high of $228.04.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data 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. FY 2023 guidance at 9.100-9.200 EPS. As a group, research analysts forecast that Honeywell International Inc. will post 10.34 earnings per share 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 paid a $1.19 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s payout ratio is 50.16%.

Insider Activity at Honeywell International

In related news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total transaction of $9,339,375.42. Following the transaction, the chief executive officer owned 10,334 shares in the company, valued at approximately $2,289,807.72. The trade was a 80.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

HON has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Honeywell International from $271.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Royal Bank Of Canada raised shares of Honeywell International from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $235.00 to $253.00 in a research report on Monday, October 27th. Wells Fargo & Company lowered their target price on shares of 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. Rothschild & Co Redburn decreased their price objective on Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Finally, Bank of America reiterated an “underperform” rating and issued a $205.00 target price (down from $265.00) on shares of Honeywell International in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Honeywell International has a consensus rating of “Moderate Buy” and a consensus target price of $239.38.

Honeywell International 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.