Gateway Investment Advisers LLC Reduces Holdings in Honeywell International Inc. $HON

Gateway Investment Advisers LLC lowered its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,153 shares of the conglomerate’s stock after selling 3,478 shares during the period. Gateway Investment Advisers LLC’s holdings in Honeywell International were worth $48,447,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of Honeywell International by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,777,498 shares of the conglomerate’s stock worth $1,578,344,000 after purchasing an additional 48,968 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Honeywell International by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate’s stock worth $1,278,563,000 after buying an additional 505,083 shares in the last quarter. Unisphere Establishment raised its holdings in shares of Honeywell International by 8.1% in the second quarter. Unisphere Establishment now owns 4,000,000 shares of the conglomerate’s stock worth $931,520,000 after acquiring an additional 300,000 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Honeywell International by 3.9% in the second quarter. Legal & General Group Plc now owns 3,725,789 shares of the conglomerate’s stock valued at $867,663,000 after acquiring an additional 138,235 shares in the last quarter. Finally, Laurel Wealth Advisors LLC boosted its stake in shares of Honeywell International by 23,503.0% during the second quarter. Laurel Wealth Advisors LLC now owns 3,716,532 shares of the conglomerate’s stock valued at $865,506,000 after acquiring an additional 3,700,786 shares during the last quarter. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Honeywell International Price Performance

HON opened at $195.88 on Friday. Honeywell International Inc. has a 1 year low of $169.21 and a 1 year high of $228.04. The company’s 50 day simple moving average is $196.13 and its 200 day simple moving average is $211.32. The stock has a market capitalization of $124.36 billion, a PE ratio of 20.64, a P/E/G ratio of 2.62 and a beta of 0.95. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The firm had revenue of $8.95 billion during the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. 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, sell-side analysts expect that Honeywell International Inc. will post 10.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Evercore ISI initiated coverage on shares of Honeywell International in a research note on Monday, December 15th. They issued an “outperform” rating and a $255.00 target price for the company. HSBC lowered 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. Wells Fargo & Company reduced their price objective on shares of Honeywell International from $230.00 to $218.00 and set an “equal weight” rating on the stock in a research note on Friday, November 14th. Jefferies Financial Group decreased their target price on shares of Honeywell International from $230.00 to $220.00 in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada upgraded Honeywell International from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $235.00 to $253.00 in a report on Monday, October 27th. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Honeywell International currently has a consensus rating of “Hold” and a consensus price target of $235.58.

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.