Traders Sell Shares of Honeywell International (HON) on Strength Following Insider Selling

Investors sold shares of Honeywell International Inc. (NYSE:HON) on strength during trading hours on Monday after an insider sold shares in the company. $79.69 million flowed into the stock on the tick-up and $172.88 million flowed out of the stock on the tick-down, for a money net flow of $93.19 million out of the stock. Of all equities tracked, Honeywell International had the 0th highest net out-flow for the day. Honeywell International traded up $0.61 for the day and closed at $154.03Specifically, Director Linnet F. Deily sold 2,886 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $147.71, for a total transaction of $426,291.06. Following the transaction, the director now owns 9,105 shares of the company’s stock, valued at approximately $1,344,899.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.56% of the company’s stock.

A number of research analysts have recently commented on the company. Stifel Nicolaus reissued a “buy” rating and set a $165.00 price objective on shares of Honeywell International in a report on Friday. Cowen restated a “buy” rating and set a $168.00 target price on shares of Honeywell International in a research note on Monday, January 22nd. Jefferies Group increased their target price on Honeywell International from $162.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Zacks Investment Research downgraded Honeywell International from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Bank of America increased their target price on Honeywell International from $117.12 to $168.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Honeywell International presently has a consensus rating of “Buy” and a consensus price target of $165.67.

The company has a market cap of $116,570.00, a P/E ratio of 35.99, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.38.

Honeywell International (NYSE:HON) last announced its quarterly earnings data on Friday, January 26th. The conglomerate reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.01. Honeywell International had a return on equity of 27.27% and a net margin of 4.08%. The company had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the company earned $1.74 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. sell-side analysts predict that Honeywell International Inc. will post 7.97 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be given a $0.745 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 1.93%. Honeywell International’s dividend payout ratio is currently 69.63%.

Honeywell International announced that its Board of Directors has approved a share buyback program on Friday, December 8th that permits the company to repurchase $6.50 billion in shares. This repurchase authorization permits the conglomerate to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in HON. Everett Harris & Co. CA lifted its position in shares of Honeywell International by 80.3% in the 2nd quarter. Everett Harris & Co. CA now owns 5,772 shares of the conglomerate’s stock worth $769,000 after acquiring an additional 2,570 shares during the period. Highstreet Asset Management Inc. raised its holdings in shares of Honeywell International by 432.5% in the 2nd quarter. Highstreet Asset Management Inc. now owns 93,112 shares of the conglomerate’s stock worth $12,416,000 after buying an additional 75,626 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Honeywell International by 10.4% in the 2nd quarter. Ballentine Partners LLC now owns 4,264 shares of the conglomerate’s stock worth $582,000 after buying an additional 402 shares in the last quarter. Hartland & Co. LLC raised its holdings in shares of Honeywell International by 11.4% in the 2nd quarter. Hartland & Co. LLC now owns 7,067 shares of the conglomerate’s stock worth $942,000 after buying an additional 726 shares in the last quarter. Finally, Bridgewater Wealth & Financial Management LLC raised its holdings in shares of Honeywell International by 39.9% in the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 3,206 shares of the conglomerate’s stock worth $427,000 after buying an additional 915 shares in the last quarter. Institutional investors own 75.73% 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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