Exxonmobil Investment Management Inc. TX Decreases Position in Honeywell International Inc. (HON)
Exxonmobil Investment Management Inc. TX cut its stake in Honeywell International Inc. (NYSE:HON) by 13.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 121,133 shares of the conglomerate’s stock after selling 18,081 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Honeywell International were worth $18,577,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Burt Wealth Advisors lifted its stake in Honeywell International by 65.4% in the 2nd quarter. Burt Wealth Advisors now owns 759 shares of the conglomerate’s stock valued at $101,000 after buying an additional 300 shares in the last quarter. Guidant Wealth Advisors lifted its stake in Honeywell International by 15.8% in the 2nd quarter. Guidant Wealth Advisors now owns 764 shares of the conglomerate’s stock worth $102,000 after purchasing an additional 104 shares in the last quarter. Mosaic Family Wealth LLC lifted its stake in Honeywell International by 11.4% in the 2nd quarter. Mosaic Family Wealth LLC now owns 762 shares of the conglomerate’s stock worth $102,000 after purchasing an additional 78 shares in the last quarter. Mascoma Wealth Management LLC lifted its stake in Honeywell International by 113.2% in the 3rd quarter. Mascoma Wealth Management LLC now owns 806 shares of the conglomerate’s stock worth $114,000 after purchasing an additional 428 shares in the last quarter. Finally, Invictus RG purchased a new position in Honeywell International in the 3rd quarter worth approximately $117,000. 76.52% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. Vertical Research reissued a “buy” rating on shares of Honeywell International in a research note on Friday, October 20th. Oppenheimer raised their target price on shares of Honeywell International from $155.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, December 14th. Robert W. Baird reissued a “buy” rating and issued a $187.00 target price on shares of Honeywell International in a research note on Friday, January 26th. Cowen reissued a “buy” rating and issued a $168.00 target price on shares of Honeywell International in a research note on Monday, January 22nd. Finally, Zacks Investment Research lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $163.93.
Honeywell International (NYSE:HON) last announced its quarterly earnings results on Friday, January 26th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.01. The business had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.80 billion. Honeywell International had a net margin of 4.08% and a return on equity of 27.27%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.74 EPS. research analysts forecast that Honeywell International Inc. will post 7.97 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.745 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.01%. Honeywell International’s dividend payout ratio is currently 143.27%.
Honeywell International announced that its Board of Directors has initiated a share buyback program on Friday, December 8th that permits the company to buyback $6.50 billion in shares. This buyback authorization permits the conglomerate to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Honeywell International Company 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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