1ST Source Bank Sells 3,214 Shares of Honeywell International Inc. (HON)
1ST Source Bank lowered its stake in shares of Honeywell International Inc. (NYSE:HON) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,384 shares of the conglomerate’s stock after selling 3,214 shares during the period. Honeywell International comprises 1.2% of 1ST Source Bank’s investment portfolio, making the stock its 10th biggest position. 1ST Source Bank’s holdings in Honeywell International were worth $14,796,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in HON. Crossmark Global Holdings Inc. purchased a new stake in Honeywell International during the 3rd quarter valued at about $16,626,000. Lyell Wealth Management LP grew its stake in Honeywell International by 3.3% during the 3rd quarter. Lyell Wealth Management LP now owns 27,418 shares of the conglomerate’s stock valued at $3,886,000 after acquiring an additional 875 shares in the last quarter. Glenview State Bank Trust DEPT. grew its stake in Honeywell International by 56.9% during the 3rd quarter. Glenview State Bank Trust DEPT. now owns 2,675 shares of the conglomerate’s stock valued at $379,000 after acquiring an additional 970 shares in the last quarter. Well Done LLC purchased a new stake in Honeywell International during the 3rd quarter valued at about $237,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Honeywell International by 9.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 158,055 shares of the conglomerate’s stock valued at $22,404,000 after acquiring an additional 13,357 shares in the last quarter. 76.29% of the stock is owned by institutional investors and hedge funds.
Honeywell International Inc. (HON) opened at $153.76 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. The firm has a market cap of $116,162.83, a PE ratio of 23.30, a price-to-earnings-growth ratio of 2.55 and a beta of 0.99. Honeywell International Inc. has a fifty-two week low of $115.42 and a fifty-two week high of $156.70.
Honeywell International (NYSE:HON) last posted its earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share for the quarter, meeting the consensus estimate of $1.75. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The company had revenue of $10.12 billion for the quarter, compared to analyst estimates of $10.05 billion. During the same period in the previous year, the business posted $1.60 EPS. Honeywell International’s revenue was up 3.2% on a year-over-year basis. equities research analysts predict that Honeywell International Inc. will post 7.1 earnings per share for the current fiscal year.
Honeywell International declared that its Board of Directors has approved a stock repurchase program on Friday, December 8th that authorizes the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were issued a $0.745 dividend. This is a positive change from Honeywell International’s previous quarterly dividend of $0.67. This represents a $2.98 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 16th. Honeywell International’s dividend payout ratio is currently 45.15%.
In other news, VP Krishna Mikkilineni sold 13,074 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $145.12, for a total value of $1,897,298.88. Following the transaction, the vice president now directly owns 104,998 shares in the company, valued at approximately $15,237,309.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bradley T. Sheares sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $146.41, for a total transaction of $194,432.48. Following the completion of the transaction, the director now owns 4,002 shares in the company, valued at $585,932.82. The disclosure for this sale can be found here. Corporate insiders own 1.56% of the company’s stock.
Several analysts recently issued reports on the stock. Argus upped their price objective on shares of Honeywell International from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Royal Bank of Canada upped their price objective on shares of Honeywell International to $163.00 and gave the company an “outperform” rating in a research note on Thursday, December 14th. Jefferies Group boosted their target price on shares of Honeywell International from $162.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Oppenheimer boosted their target price on shares of Honeywell International from $155.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, December 14th. Finally, Stifel Nicolaus decreased their target price on shares of Honeywell International from $171.00 to $169.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $160.50.
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About Honeywell International
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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