Glenmede Trust Co. NA Reduces Stake in Honeywell International Inc. (HON)
Glenmede Trust Co. NA reduced its position in Honeywell International Inc. (NYSE:HON) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 764,618 shares of the conglomerate’s stock after selling 3,163 shares during the period. Glenmede Trust Co. NA owned approximately 0.10% of Honeywell International worth $110,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Weatherly Asset Management L. P. raised its holdings in Honeywell International by 3.9% during the second quarter. Weatherly Asset Management L. P. now owns 8,543 shares of the conglomerate’s stock valued at $1,231,000 after acquiring an additional 323 shares during the period. Parthenon LLC raised its holdings in Honeywell International by 16.0% during the second quarter. Parthenon LLC now owns 2,392 shares of the conglomerate’s stock valued at $345,000 after acquiring an additional 330 shares during the period. Bank of The Ozarks raised its holdings in Honeywell International by 3.1% during the second quarter. Bank of The Ozarks now owns 11,127 shares of the conglomerate’s stock valued at $1,603,000 after acquiring an additional 334 shares during the period. Thompson Davis & CO. Inc. raised its holdings in Honeywell International by 40.6% during the second quarter. Thompson Davis & CO. Inc. now owns 1,195 shares of the conglomerate’s stock valued at $172,000 after acquiring an additional 345 shares during the period. Finally, InterOcean Capital LLC raised its holdings in Honeywell International by 15.4% during the second quarter. InterOcean Capital LLC now owns 2,637 shares of the conglomerate’s stock valued at $380,000 after acquiring an additional 352 shares during the period. Hedge funds and other institutional investors own 74.55% of the company’s stock.
HON has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on Honeywell International in a report on Monday, August 20th. They set an “overweight” rating and a $175.00 price target on the stock. Barclays raised their price target on Honeywell International from $176.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, August 24th. Zacks Investment Research raised Honeywell International from a “hold” rating to a “buy” rating and set a $176.00 price target on the stock in a report on Tuesday, July 31st. Cowen reissued a “buy” rating and set a $168.00 price target on shares of Honeywell International in a report on Friday, August 24th. Finally, Citigroup raised their price target on Honeywell International from $191.00 to $196.00 and gave the company a “$153.70” rating in a report on Monday, July 23rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Honeywell International has a consensus rating of “Buy” and a consensus target price of $172.94.
Shares of HON stock opened at $166.14 on Wednesday. Honeywell International Inc. has a 12-month low of $137.18 and a 12-month high of $166.46. The company has a current ratio of 1.38, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $122.61 billion, a PE ratio of 23.37, a PEG ratio of 1.92 and a beta of 1.01.
Honeywell International (NYSE:HON) last issued its earnings results on Friday, July 20th. The conglomerate reported $2.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.11. Honeywell International had a return on equity of 31.46% and a net margin of 3.88%. The firm had revenue of $10.92 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the previous year, the firm posted $1.80 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. analysts predict that Honeywell International Inc. will post 8.15 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 17th were issued a $0.745 dividend. The ex-dividend date was Thursday, August 16th. This represents a $2.98 annualized dividend and a dividend yield of 1.79%. Honeywell International’s dividend payout ratio (DPR) is 41.91%.
About Honeywell International
Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.
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