Pinnacle Financial Partners Inc. lowered its position in Honeywell International Inc. (NYSE:HON) by 4.4% during the third quarter, HoldingsChannel.com reports. The firm owned 42,224 shares of the conglomerate’s stock after selling 1,930 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Honeywell International were worth $5,985,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burt Wealth Advisors lifted its position in shares of Honeywell International by 65.4% in the 2nd quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock worth $101,000 after purchasing an additional 300 shares during the period. Guidant Wealth Advisors lifted its position in shares of Honeywell International by 15.8% in the 2nd quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock worth $102,000 after purchasing an additional 104 shares during the period. Mosaic Family Wealth LLC lifted its position in shares of Honeywell International by 11.4% in the 2nd quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock worth $102,000 after purchasing an additional 78 shares during the period. CKW Financial Group acquired a new position in shares of Honeywell International in the 2nd quarter worth approximately $108,000. Finally, Mascoma Wealth Management LLC lifted its position in shares of Honeywell International by 113.2% in the 3rd quarter. Mascoma Wealth Management LLC now owns 806 shares of the conglomerate’s stock worth $114,000 after purchasing an additional 428 shares during the period. Hedge funds and other institutional investors own 76.36% of the company’s stock.
In other Honeywell International news, Director Bradley T. Sheares sold 1,328 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $585,932.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Krishna Mikkilineni sold 13,074 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the sale, the vice president now owns 104,998 shares of the company’s stock, valued at approximately $15,237,309.76. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.
Honeywell International (NYSE:HON) last announced its quarterly earnings results on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.75. The business had revenue of $10.12 billion during the quarter, compared to analyst estimates of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. Honeywell International’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.60 EPS. analysts expect that Honeywell International Inc. will post 7.1 earnings per share for the current fiscal year.
Honeywell International announced that its board has initiated a stock buyback program on Friday, December 8th that permits the company to repurchase $6.50 billion in shares. This repurchase authorization permits the conglomerate to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of brokerages have recently issued reports on HON. Cowen restated a “buy” rating and issued a $150.00 price target on shares of Honeywell International in a research report on Thursday, October 19th. Jefferies Group lifted their price objective on shares of Honeywell International from $162.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Argus lifted their price objective on shares of Honeywell International from $152.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, October 12th. Zacks Investment Research lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Stifel Nicolaus lowered their price objective on shares of Honeywell International from $171.00 to $169.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $160.14.
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Honeywell International Profile
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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