Hallmark Capital Management Inc. Cuts Stake in Honeywell International Inc. (HON)

Hallmark Capital Management Inc. lowered its stake in Honeywell International Inc. (NYSE:HON) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 128,994 shares of the conglomerate’s stock after selling 1,422 shares during the quarter. Honeywell International makes up approximately 2.3% of Hallmark Capital Management Inc.’s investment portfolio, making the stock its 6th largest position. Hallmark Capital Management Inc.’s holdings in Honeywell International were worth $18,284,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in Honeywell International by 4,986.7% during the second quarter. Janus Henderson Group PLC now owns 4,395,092 shares of the conglomerate’s stock worth $585,822,000 after buying an additional 4,308,688 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Honeywell International by 38.9% in the second quarter. Ameriprise Financial Inc. now owns 13,323,259 shares of the conglomerate’s stock valued at $1,776,394,000 after purchasing an additional 3,728,533 shares during the last quarter. Harbour Capital Advisors LLC grew its position in shares of Honeywell International by 13,551.7% in the second quarter. Harbour Capital Advisors LLC now owns 1,804,613 shares of the conglomerate’s stock valued at $13,539,000 after purchasing an additional 1,791,394 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Honeywell International by 2.5% in the second quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock valued at $6,626,247,000 after purchasing an additional 1,234,672 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Honeywell International by 2.8% in the second quarter. BlackRock Inc. now owns 45,038,036 shares of the conglomerate’s stock valued at $6,003,117,000 after purchasing an additional 1,207,893 shares during the last quarter. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of Honeywell International Inc. (HON) opened at $159.07 on Friday. The firm has a market capitalization of $120,390.00, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 1.35. Honeywell International Inc. has a 12 month low of $116.66 and a 12 month high of $159.49.

Honeywell International (NYSE:HON) last announced its quarterly earnings results on Friday, October 20th. The conglomerate reported $1.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.75. The company had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $10.05 billion. Honeywell International had a net margin of 12.85% and a return on equity of 26.26%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.60 earnings per share. equities analysts anticipate that Honeywell International Inc. will post 7.1 EPS for the current fiscal year.

Honeywell International announced that its board has authorized a share buyback plan on Friday, December 8th that authorizes the company to repurchase $6.50 billion in shares. This repurchase authorization authorizes the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

In related news, VP Krishna Mikkilineni sold 13,074 shares of the stock in a transaction on 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 completion of the sale, the vice president now directly owns 104,998 shares in the company, valued at $15,237,309.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradley T. Sheares sold 1,328 shares of the stock in a transaction on 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 sale, the director now owns 4,002 shares of the company’s stock, valued at $585,932.82. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by corporate insiders.

Several equities analysts have recently commented on the company. Jefferies Group reaffirmed a “buy” rating and issued a $155.00 target price on shares of Honeywell International in a research report on Thursday, September 28th. Royal Bank of Canada downgraded Honeywell International from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $163.00 to $158.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Argus upped their target price on Honeywell International from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Robert W. Baird reiterated a “buy” rating and issued a $156.00 price target (up from $140.00) on shares of Honeywell International in a research note on Wednesday, October 11th. Finally, Stifel Nicolaus cut their price target on Honeywell International from $171.00 to $169.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $160.14.

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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.

Institutional Ownership by Quarter for Honeywell International (NYSE:HON)

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