Meeder Asset Management Inc. decreased its holdings in shares of Honeywell International Inc. (NYSE:HON) by 64.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,130 shares of the conglomerate’s stock after selling 5,768 shares during the quarter. Meeder Asset Management Inc.’s holdings in Honeywell International were worth $480,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Honeywell International by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock valued at $6,626,247,000 after purchasing an additional 1,234,672 shares during the period. BlackRock Inc. raised its holdings in Honeywell International by 2.8% in the 2nd quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock valued at $6,003,117,000 after acquiring an additional 1,207,893 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Honeywell International by 1.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,530,401 shares of the conglomerate’s stock valued at $1,918,100,000 after acquiring an additional 207,142 shares in the last quarter. FMR LLC raised its holdings in Honeywell International by 9.3% in the 2nd quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock valued at $1,120,396,000 after acquiring an additional 714,881 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Honeywell International by 9.1% in the 2nd quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock valued at $1,005,003,000 after acquiring an additional 629,221 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.
In other news, Director Jaime Chico /Fa Pardo sold 2,868 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $156.36, for a total value of $448,440.48. Following the completion of the transaction, the director now directly owns 41,092 shares of the company’s stock, valued at approximately $6,425,145.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Linnet F. Deily sold 2,886 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $147.71, for a total value of $426,291.06. Following the completion of the transaction, the director now directly owns 9,105 shares of the company’s stock, valued at $1,344,899.55. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.
Honeywell International (NYSE:HON) last issued its earnings results on Friday, January 26th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.01. Honeywell International had a return on equity of 27.27% and a net margin of 4.08%. The business had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the prior year, the firm posted $1.74 EPS. Honeywell International’s quarterly revenue was up 8.6% compared to the same quarter last year. research analysts predict that Honeywell International Inc. will post 7.97 earnings per share for the current year.
Honeywell International declared that its Board of Directors has initiated a share buyback program on Friday, December 8th that authorizes the company to repurchase $6.50 billion in shares. This repurchase authorization authorizes the conglomerate to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were issued a $0.745 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 1.93%. Honeywell International’s payout ratio is presently 143.27%.
HON has been the subject of several recent research reports. TheStreet cut Honeywell International from an “a+” rating to a “c+” rating in a report on Friday, January 26th. Royal Bank of Canada cut Honeywell International from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $163.00 to $158.00 in a report on Wednesday, January 3rd. They noted that the move was a valuation call. Oppenheimer upped their price target on Honeywell International from $155.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, December 14th. ValuEngine raised Honeywell International from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Citigroup set a $180.00 price target on Honeywell International and gave the company a “buy” rating in a report on Thursday, December 14th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $165.67.
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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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