Bank Pictet & Cie Europe AG Decreases Stock Holdings in Honeywell International Inc. $HON

Bank Pictet & Cie Europe AG lowered its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 60.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,302 shares of the conglomerate’s stock after selling 89,383 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Honeywell International were worth $12,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Honeywell International by 9.1% in the fourth quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate’s stock worth $4,302,000 after purchasing an additional 1,582 shares during the last quarter. Quarry LP acquired a new stake in shares of Honeywell International in the 1st quarter worth $41,000. Federation des caisses Desjardins du Quebec boosted its position in shares of Honeywell International by 18.7% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 24,755 shares of the conglomerate’s stock worth $5,242,000 after purchasing an additional 3,908 shares in the last quarter. Amundi grew its stake in Honeywell International by 30.2% during the 1st quarter. Amundi now owns 519,882 shares of the conglomerate’s stock worth $107,450,000 after buying an additional 120,706 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Honeywell International by 4.7% during the 1st quarter. Advisors Asset Management Inc. now owns 18,009 shares of the conglomerate’s stock valued at $3,813,000 after buying an additional 815 shares in the last quarter. 75.91% of the stock is currently owned by institutional investors.

Honeywell International Stock Performance

Shares of NASDAQ HON opened at $195.09 on Friday. The company has a 50 day simple moving average of $196.54 and a two-hundred day simple moving average of $211.59. The stock has a market cap of $123.86 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.84 and a beta of 0.95. 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 Inc. has a 12 month low of $169.21 and a 12 month high of $228.04.

Honeywell International (NASDAQ:HON) last released its quarterly earnings data on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. The firm 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 and its FY 2023 guidance at 9.100-9.200 EPS. As a group, analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HON shares. BNP Paribas Exane started coverage on Honeywell International in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $195.00 price target for the company. Citigroup lifted their target price on shares of Honeywell International from $251.56 to $267.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. DZ Bank cut their price target on shares of Honeywell International from $248.00 to $237.00 in a research note on Tuesday, December 23rd. TD Cowen decreased their price target on shares of Honeywell International from $250.00 to $240.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Jefferies Financial Group dropped their price objective on shares of Honeywell International from $230.00 to $220.00 in a report on Monday, November 3rd. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Honeywell International currently has an average rating of “Hold” and an average target price of $235.58.

Honeywell International Profile

Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.