American International Group Inc. decreased its position in Honeywell International Inc. (NYSE:HON) by 7.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,292 shares of the conglomerate’s stock after selling 18,186 shares during the period. American International Group Inc.’s holdings in Honeywell International were worth $32,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of HON. Janus Henderson Group PLC grew its position in Honeywell International by 4,986.7% during the 2nd quarter. Janus Henderson Group PLC now owns 4,395,092 shares of the conglomerate’s stock worth $585,822,000 after purchasing an additional 4,308,688 shares during the period. Ameriprise Financial Inc. grew its position in Honeywell International by 38.9% during the 2nd 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. Harbour Capital Advisors LLC grew its position in Honeywell International by 13,551.7% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,804,613 shares of the conglomerate’s stock worth $13,539,000 after purchasing an additional 1,791,394 shares during the period. Vanguard Group Inc. grew its position in Honeywell International by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 49,713,013 shares of the conglomerate’s stock worth $6,626,247,000 after purchasing an additional 1,234,672 shares during the period. Finally, BlackRock Inc. grew its position in Honeywell International by 2.8% during the 2nd 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. Institutional investors own 76.36% of the company’s stock.
Shares of Honeywell International Inc. (NYSE HON) opened at $158.69 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. Honeywell International Inc. has a twelve month low of $116.98 and a twelve month high of $159.85. The stock has a market capitalization of $120,100.00, a PE ratio of 24.04, a P/E/G ratio of 2.41 and a beta of 0.99.
Honeywell International (NYSE:HON) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $1.75 earnings per share (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 company had revenue of $10.12 billion for the quarter, compared to analysts’ expectations of $10.05 billion. During the same period in the previous year, the firm posted $1.60 EPS. Honeywell International’s revenue was up 3.2% compared to the same quarter last year. equities research analysts anticipate that Honeywell International Inc. will post 7.1 earnings per share for the current year.
Honeywell International announced that its board has initiated a stock buyback program on Friday, December 8th that permits the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization permits the conglomerate to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In related news, Director Bradley T. Sheares sold 1,328 shares of Honeywell International stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $146.41, for a total value of $194,432.48. Following the sale, the director now directly owns 4,002 shares in the company, valued at approximately $585,932.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Krishna Mikkilineni sold 13,074 shares of Honeywell International 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 completion of the sale, the vice president now owns 104,998 shares in the company, valued at $15,237,309.76. The disclosure for this sale can be found here. Insiders own 1.56% of the company’s stock.
Several brokerages have weighed in on HON. Royal Bank of Canada downgraded Honeywell International from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $163.00 to $158.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Argus raised 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. Jefferies Group raised their target price on Honeywell International from $162.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. Oppenheimer raised their target price on Honeywell International from $155.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, December 14th. Finally, Stifel Nicolaus dropped their target price on Honeywell International from $171.00 to $169.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $160.14.
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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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