Bahl & Gaynor Inc. Cuts Stock Holdings in Honeywell International Inc. $HON

Bahl & Gaynor Inc. lessened its holdings in Honeywell International Inc. (NASDAQ:HON) by 4.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 132,518 shares of the conglomerate’s stock after selling 6,667 shares during the period. Bahl & Gaynor Inc.’s holdings in Honeywell International were worth $30,861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AlphaCore Capital LLC lifted its holdings in Honeywell International by 19.8% during the second quarter. AlphaCore Capital LLC now owns 7,963 shares of the conglomerate’s stock worth $1,854,000 after buying an additional 1,314 shares during the period. Mufg Securities Americas Inc. raised its position in shares of Honeywell International by 23.7% in the 2nd quarter. Mufg Securities Americas Inc. now owns 14,243 shares of the conglomerate’s stock worth $3,317,000 after acquiring an additional 2,733 shares in the last quarter. Evelyn Partners Investment Management Services Ltd lifted its stake in shares of Honeywell International by 34,678.9% during the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 6,608 shares of the conglomerate’s stock worth $1,539,000 after purchasing an additional 6,589 shares during the last quarter. Evelyn Partners Investment Management LLP boosted its position in Honeywell International by 2,161.0% during the second quarter. Evelyn Partners Investment Management LLP now owns 23,808 shares of the conglomerate’s stock valued at $5,544,000 after purchasing an additional 22,755 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in Honeywell International in the second quarter valued at about $1,608,000. 75.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on HON shares. Morgan Stanley decreased their price target on shares of 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. 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. JPMorgan Chase & Co. lifted their price target on shares of Honeywell International from $212.00 to $218.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on Honeywell International from $271.00 to $265.00 and set a “buy” rating for the company in a report on Friday, October 24th. Finally, HSBC dropped their target price on Honeywell International from $290.00 to $266.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.38.

Honeywell International Stock Up 1.0%

NASDAQ:HON opened at $190.02 on Friday. The company’s fifty day moving average price is $204.74 and its 200-day moving average price is $217.32. The firm has a market capitalization of $120.64 billion, a P/E ratio of 20.02, a PEG ratio of 2.73 and a beta of 1.07. Honeywell International Inc. has a 1-year low of $169.21 and a 1-year high of $228.04. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.36 and a quick ratio of 1.04.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. The business had revenue of $8.95 billion during the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%. 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, equities research analysts anticipate that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a dividend of $1.19 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.76 annualized dividend and a dividend yield of 2.5%. Honeywell International’s payout ratio is presently 50.16%.

Insiders Place Their Bets

In other Honeywell International news, CEO Lucian Boldea sold 42,149 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $2,289,807.72. This represents a 80.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

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.