New England Research & Management Inc. Reduces Stake in Honeywell International Inc. (HON)
New England Research & Management Inc. lessened its position in Honeywell International Inc. (NYSE:HON) by 7.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,787 shares of the conglomerate’s stock after selling 550 shares during the period. New England Research & Management Inc.’s holdings in Honeywell International were worth $962,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Honeywell International by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock worth $6,626,247,000 after buying an additional 1,234,672 shares in the last quarter. BlackRock Inc. raised its position in shares of Honeywell International by 2.8% during the second quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock worth $6,003,117,000 after purchasing an additional 1,207,893 shares during the period. Ameriprise Financial Inc. raised its position in shares of Honeywell International by 38.9% during the second quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock worth $1,776,394,000 after purchasing an additional 3,728,533 shares during the period. FMR LLC raised its position in shares of Honeywell International by 9.3% during the second quarter. FMR LLC now owns 8,405,703 shares of the conglomerate’s stock worth $1,120,396,000 after purchasing an additional 714,881 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Honeywell International by 9.1% during the second quarter. Alliancebernstein L.P. now owns 7,539,972 shares of the conglomerate’s stock worth $1,005,003,000 after purchasing an additional 629,221 shares during the period. 76.30% of the stock is currently owned by institutional investors.
Honeywell International Inc. (NYSE:HON) opened at $153.49 on Friday. The firm has a market capitalization of $116,336.89, a price-to-earnings ratio of 23.26, a P/E/G ratio of 2.56 and a beta of 0.99. Honeywell International Inc. has a 52-week low of $115.42 and a 52-week high of $156.70. The company has a current ratio of 1.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54.
Honeywell International declared that its Board of Directors has approved a share repurchase plan on Friday, December 8th that permits the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization permits the conglomerate to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were given a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 1.94%. This is a positive change from Honeywell International’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, November 16th. Honeywell International’s payout ratio is presently 45.15%.
In related news, VP Krishna Mikkilineni sold 13,074 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $145.12, for a total transaction of $1,897,298.88. Following the transaction, the vice president now directly owns 104,998 shares of the company’s stock, valued at $15,237,309.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradley T. Sheares sold 1,328 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $146.41, for a total value of $194,432.48. Following the completion of the transaction, the director now owns 4,002 shares in the company, valued at approximately $585,932.82. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by insiders.
HON has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $148.00 target price on Honeywell International and gave the stock a “buy” rating in a research report on Sunday, August 27th. Cowen reaffirmed a “buy” rating and set a $150.00 target price on shares of Honeywell International in a research report on Thursday, October 19th. Argus boosted their target price on Honeywell International from $152.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. Robert W. Baird reaffirmed a “buy” rating and set a $156.00 target price (up from $140.00) on shares of Honeywell International in a research report on Wednesday, October 11th. Finally, Citigroup boosted their target price on Honeywell International from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Honeywell International currently has an average rating of “Buy” and a consensus price target of $160.50.
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Honeywell International Profile
Honeywell International Inc is a technology and manufacturing company. The Company operates through four segments: Aerospace, Home and Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Company’s Aerospace segment supplies products, software and services for aircraft and vehicles that it sells to original equipment manufacturers (OEMs) and other customers.
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