Allianz SE Cuts Stock Position in Honeywell International Inc. $HON

Allianz SE trimmed its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 80.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,960 shares of the conglomerate’s stock after selling 20,732 shares during the period. Allianz SE’s holdings in Honeywell International were worth $1,155,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Cherokee Insurance Co acquired a new position in shares of Honeywell International during the 2nd quarter worth about $245,000. Candriam S.C.A. increased its stake in Honeywell International by 19.5% during the 2nd quarter. Candriam S.C.A. now owns 53,070 shares of the conglomerate’s stock worth $12,359,000 after buying an additional 8,660 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Honeywell International by 3.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 97,762 shares of the conglomerate’s stock valued at $22,767,000 after acquiring an additional 2,930 shares during the last quarter. Bailard Inc. raised its holdings in shares of Honeywell International by 62.5% during the second quarter. Bailard Inc. now owns 22,568 shares of the conglomerate’s stock valued at $5,256,000 after acquiring an additional 8,681 shares during the last quarter. Finally, Maple Capital Management Inc. lifted its position in shares of Honeywell International by 2.5% in the second quarter. Maple Capital Management Inc. now owns 155,222 shares of the conglomerate’s stock valued at $36,148,000 after acquiring an additional 3,799 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley dropped their price target on Honeywell International from $245.00 to $235.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 28th. Rothschild & Co Redburn reduced their target price on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Barclays upped their price objective on Honeywell International from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Weiss Ratings cut Honeywell International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, November 7th. Finally, Royal Bank Of Canada upgraded Honeywell International from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $235.00 to $253.00 in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Honeywell International has a consensus rating of “Moderate Buy” and an average target price of $244.13.

Honeywell International Price Performance

HON opened at $199.87 on Friday. The stock’s 50-day moving average price is $207.26 and its 200 day moving average price is $218.06. Honeywell International Inc. has a 12-month low of $169.21 and a 12-month high of $228.04. The firm has a market cap of $126.89 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.73 and a beta of 1.07. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The company had revenue of $8.95 billion for 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. FY 2023 guidance at 9.100-9.200 EPS. As a group, sell-side analysts expect 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. Shareholders of record on Friday, November 14th will be issued a dividend of $1.19 per share. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date is Friday, November 14th. This represents a $4.76 dividend on an annualized basis and a yield of 2.4%. Honeywell International’s dividend payout ratio (DPR) is currently 50.16%.

Insider Transactions at Honeywell International

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $221.58, for a total value of $9,339,375.42. Following the completion of the transaction, the chief executive officer owned 10,334 shares of the company’s stock, valued at $2,289,807.72. This trade represents a 80.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

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.