Gateway Investment Advisers LLC Lowers Stock Holdings in Honeywell International Inc. $HON

Gateway Investment Advisers LLC lessened its stake in Honeywell International Inc. (NASDAQ:HON) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 230,153 shares of the conglomerate’s stock after selling 3,478 shares during the period. Gateway Investment Advisers LLC’s holdings in Honeywell International were worth $48,447,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC purchased a new position in shares of Honeywell International in the 2nd quarter valued at approximately $26,000. RMG Wealth Management LLC acquired a new stake in shares of Honeywell International during the second quarter worth $33,000. Activest Wealth Management grew its position in Honeywell International by 425.9% in the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Howard Hughes Medical Institute purchased a new position in Honeywell International in the 2nd quarter valued at $33,000. Finally, SJS Investment Consulting Inc. increased its stake in Honeywell International by 833.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 168 shares of the conglomerate’s stock valued at $35,000 after buying an additional 150 shares during the period. 75.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Argus reduced their target price on shares of Honeywell International from $250.00 to $225.00 in a research note on Friday, November 14th. Jefferies Financial Group dropped their price target on shares of Honeywell International from $230.00 to $220.00 in a research note on Monday, November 3rd. Morgan Stanley reduced their price objective 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. Citigroup lifted their price objective on Honeywell International from $251.56 to $267.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, DZ Bank cut their target price on Honeywell International from $248.00 to $237.00 in a research note on Tuesday, December 23rd. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $235.58.

Honeywell International Trading Up 0.4%

Shares of Honeywell International stock opened at $195.88 on Friday. The company has a 50-day moving average of $196.13 and a two-hundred day moving average of $211.32. Honeywell International Inc. has a 12-month low of $169.21 and a 12-month high of $228.04. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 1.70. The stock has a market cap of $124.36 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95.

Honeywell International (NASDAQ:HON) last announced its quarterly earnings results on Monday, December 11th. The conglomerate reported $2.25 EPS for the quarter. The business had revenue of $8.95 billion for 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 and its FY 2023 guidance at 9.100-9.200 EPS. On average, research analysts anticipate that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

About Honeywell International

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.