Kestra Investment Management LLC Cuts Stock Holdings in Honeywell International Inc. $HON

Kestra Investment Management LLC lowered its position in shares of Honeywell International Inc. (NASDAQ:HON) by 67.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,669 shares of the conglomerate’s stock after selling 3,389 shares during the quarter. Kestra Investment Management LLC’s holdings in Honeywell International were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Honeywell International by 8.9% in the 1st quarter. Wellington Management Group LLP now owns 15,751,951 shares of the conglomerate’s stock valued at $3,335,476,000 after purchasing an additional 1,293,137 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Honeywell International by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 6,777,498 shares of the conglomerate’s stock worth $1,578,344,000 after buying an additional 48,968 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Honeywell International by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate’s stock valued at $1,278,563,000 after buying an additional 505,083 shares during the last quarter. Unisphere Establishment lifted its stake in shares of Honeywell International by 8.1% in the second quarter. Unisphere Establishment now owns 4,000,000 shares of the conglomerate’s stock worth $931,520,000 after buying an additional 300,000 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Honeywell International by 3.9% in the second quarter. Legal & General Group Plc now owns 3,725,789 shares of the conglomerate’s stock worth $867,663,000 after buying an additional 138,235 shares in the last quarter. 75.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Rothschild & Co Redburn dropped their price objective on shares of Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Robert W. Baird dropped their price target on Honeywell International from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. JPMorgan Chase & Co. increased their price target on Honeywell International from $212.00 to $218.00 and gave the company a “neutral” rating in a report on Friday, October 24th. TD Cowen lowered their price objective on Honeywell International from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Finally, BNP Paribas upgraded Honeywell International to a “hold” rating in a report on Wednesday, December 3rd. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $236.59.

Honeywell International Trading Up 2.0%

HON opened at $197.45 on Tuesday. Honeywell International Inc. has a one year low of $169.21 and a one year high of $228.04. The stock has a market capitalization of $125.36 billion, a PE ratio of 20.81, a P/E/G ratio of 2.59 and a beta of 0.96. The business’s 50 day moving average price is $199.04 and its 200 day moving average price is $214.07. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.04 and a current ratio of 1.36.

Honeywell International (NASDAQ:HON) last posted its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The company had revenue of $8.95 billion during the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS and its FY 2023 guidance at 9.100-9.200 EPS. As a group, equities research analysts expect that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 14th were given a $1.19 dividend. The ex-dividend date of this dividend was Friday, November 14th. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a yield of 2.4%. Honeywell International’s dividend payout ratio is currently 50.16%.

About Honeywell International

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.