Sunbelt Securities Inc. grew its position in Honeywell International Inc. (NYSE:HON) by 24.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,465 shares of the conglomerate’s stock after purchasing an additional 1,869 shares during the quarter. Honeywell International comprises approximately 1.4% of Sunbelt Securities Inc.’s investment portfolio, making the stock its 11th biggest holding. Sunbelt Securities Inc. owned about 1,242.42% of Honeywell International worth $1,342,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Schulhoff & Co. Inc. grew its holdings in shares of Honeywell International by 1.8% during the second quarter. Schulhoff & Co. Inc. now owns 11,440 shares of the conglomerate’s stock valued at $1,524,000 after buying an additional 203 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Honeywell International by 5.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 217,832 shares of the conglomerate’s stock valued at $29,184,000 after buying an additional 11,091 shares during the last quarter. Edgestream Partners L.P. grew its holdings in shares of Honeywell International by 331.4% during the first quarter. Edgestream Partners L.P. now owns 13,555 shares of the conglomerate’s stock valued at $1,693,000 after buying an additional 10,413 shares during the last quarter. YHB Investment Advisors Inc. grew its holdings in shares of Honeywell International by 30.7% during the second quarter. YHB Investment Advisors Inc. now owns 25,186 shares of the conglomerate’s stock valued at $3,357,000 after buying an additional 5,913 shares during the last quarter. Finally, AGF Investments America Inc. grew its holdings in shares of Honeywell International by 3.6% during the second quarter. AGF Investments America Inc. now owns 47,702 shares of the conglomerate’s stock valued at $6,358,000 after buying an additional 1,668 shares during the last quarter. 76.29% of the stock is currently owned by institutional investors and hedge funds.
In other Honeywell International news, VP Krishna Mikkilineni sold 13,074 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $145.12, for a total value of $1,897,298.88. Following the completion of the sale, the vice president now owns 104,998 shares in the company, valued at approximately $15,237,309.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bradley T. Sheares sold 1,328 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $146.41, for a total transaction of $194,432.48. Following the completion of the sale, the director now owns 4,002 shares of the company’s stock, valued at approximately $585,932.82. The disclosure for this sale can be found here. 1.56% of the stock is owned by corporate insiders.
Honeywell International (NYSE:HON) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, hitting the consensus estimate of $1.75. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The firm had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $10.05 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. analysts forecast that Honeywell International Inc. will post 7.1 earnings per share for the current year.
Honeywell International announced that its board has authorized a stock repurchase plan on Friday, December 8th that permits the company to repurchase $6.50 billion in shares. This repurchase authorization permits the conglomerate to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of brokerages have recently weighed in on HON. Jefferies Group reissued a “buy” rating and set a $155.00 price objective on shares of Honeywell International in a report on Thursday, September 28th. Royal Bank of Canada lowered shares of Honeywell International from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $163.00 to $158.00 in a report on Wednesday. They noted that the move was a valuation call. Argus upped their price target on shares of Honeywell International from $160.00 to $170.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Robert W. Baird reaffirmed a “buy” rating and issued a $156.00 price target (up from $140.00) on shares of Honeywell International in a report on Wednesday, October 11th. Finally, Stifel Nicolaus lowered their price target on shares of Honeywell International from $171.00 to $169.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $160.14.
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About Honeywell International
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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