Meeder Asset Management Inc. reduced its position in shares of Honeywell International Inc. (NYSE:HON) by 8.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,898 shares of the conglomerate’s stock after selling 845 shares during the quarter. Meeder Asset Management Inc.’s holdings in Honeywell International were worth $1,262,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Guild Investment Management Inc. bought a new stake in shares of Honeywell International during the third quarter valued at approximately $506,000. Robeco Institutional Asset Management B.V. raised its position in shares of Honeywell International by 23.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 20,891 shares of the conglomerate’s stock valued at $2,962,000 after buying an additional 3,947 shares during the last quarter. Wendell David Associates Inc. bought a new stake in Honeywell International in the third quarter worth $1,752,000. Assenagon Asset Management S.A. bought a new stake in Honeywell International in the third quarter worth $113,959,000. Finally, Asset Dedication LLC increased its position in Honeywell International by 211.7% in the third quarter. Asset Dedication LLC now owns 1,066 shares of the conglomerate’s stock worth $150,000 after purchasing an additional 724 shares during the last quarter. Hedge funds and other institutional investors own 76.30% of the company’s stock.
A number of research analysts have weighed in on the stock. Vertical Research reiterated a “buy” rating on shares of Honeywell International in a research report on Friday, October 20th. Cowen reiterated a “buy” rating and set a $150.00 price objective on shares of Honeywell International in a research report on Thursday, October 19th. Argus boosted their target price on shares of Honeywell International from $152.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, October 12th. Robert W. Baird reissued a “buy” rating and set a $156.00 target price (up from $140.00) on shares of Honeywell International in a research note on Wednesday, October 11th. Finally, Citigroup upped their price objective on shares of Honeywell International from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $160.14.
Shares of Honeywell International Inc. (HON) traded up $0.83 during trading hours on Thursday, reaching $157.92. 2,327,000 shares of the company traded hands, compared to its average volume of 3,230,000. 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 Inc. has a one year low of $116.66 and a one year high of $158.00. The firm has a market cap of $119,520.00, a P/E ratio of 23.93, a PEG ratio of 2.37 and a beta of 0.99.
Honeywell International (NYSE:HON) last released its quarterly earnings data on Friday, October 20th. The conglomerate reported $1.75 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.75. Honeywell International had a return on equity of 26.26% and a net margin of 12.85%. The business had revenue of $10.12 billion for the quarter, compared to analyst estimates of $10.05 billion. During the same quarter in the prior year, the firm posted $1.60 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. research analysts anticipate that Honeywell International Inc. will post 7.1 EPS for the current year.
Honeywell International declared that its board has authorized a stock repurchase plan on Friday, December 8th that permits the company to repurchase $6.50 billion in shares. This repurchase authorization permits the conglomerate to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Honeywell International news, Director Bradley T. Sheares sold 1,328 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $146.41, for a total value of $194,432.48. Following the completion of the sale, the director now directly owns 4,002 shares of the company’s stock, valued at approximately $585,932.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Krishna Mikkilineni sold 13,074 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $145.12, for a total value of $1,897,298.88. Following the sale, the vice president now directly owns 104,998 shares of the company’s stock, valued at $15,237,309.76. The disclosure for this sale can be found here. Company insiders own 1.56% of the company’s stock.
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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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