Westbourne Investment Advisors Inc. Reduces Position in Honeywell International Inc. $HON

Westbourne Investment Advisors Inc. decreased its holdings in Honeywell International Inc. (NASDAQ:HON) by 12.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,305 shares of the conglomerate’s stock after selling 340 shares during the period. Westbourne Investment Advisors Inc.’s holdings in Honeywell International were worth $537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HON. Chung Wu Investment Group LLC acquired a new stake in shares of Honeywell International in the second quarter valued at approximately $26,000. Pandora Wealth Inc. acquired a new position in Honeywell International during the first quarter worth $33,000. RMG Wealth Management LLC purchased a new stake in Honeywell International in the 2nd quarter valued at $33,000. Activest Wealth Management increased its stake in shares of Honeywell International by 425.9% in the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. Finally, 1248 Management LLC acquired a new stake in shares of Honeywell International in the 1st quarter worth $38,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Honeywell International

In other news, CEO Lucian Boldea sold 42,149 shares of Honeywell International stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $221.58, for a total value of $9,339,375.42. Following the completion of the sale, the chief executive officer directly owned 10,334 shares of the company’s stock, valued at approximately $2,289,807.72. The trade was a 80.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on HON. Barclays boosted their price target on shares of Honeywell International from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. 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. Robert W. Baird decreased their target price on shares of Honeywell International from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Royal Bank Of Canada raised shares of Honeywell International from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $235.00 to $253.00 in a research note on Monday, October 27th. Finally, TD Cowen cut 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $249.00.

Honeywell International Price Performance

Shares of HON opened at $196.07 on Tuesday. Honeywell International Inc. has a 1-year low of $179.36 and a 1-year high of $242.77. The stock has a market cap of $124.48 billion, a PE ratio of 20.66, a P/E/G ratio of 2.73 and a beta of 1.07. The firm has a 50-day simple moving average of $208.16 and a two-hundred day simple moving average of $218.30. 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 EPS 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. FY 2023 guidance at 9.100-9.200 EPS. As a group, analysts forecast that Honeywell International Inc. will post 10.34 EPS for the current year.

Honeywell International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be given a dividend of $1.19 per share. This is an increase from Honeywell International’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, November 14th. Honeywell International’s dividend payout ratio (DPR) is 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.