Essex LLC Reduces Stock Holdings in Honeywell International Inc. (NASDAQ:HON)

Essex LLC reduced its position in Honeywell International Inc. (NASDAQ:HON) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,684 shares of the conglomerate’s stock after selling 549 shares during the quarter. Essex LLC’s holdings in Honeywell International were worth $3,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in HON. LGT Group Foundation purchased a new stake in Honeywell International in the 1st quarter worth about $26,000. Richardson Capital Management LLC purchased a new stake in shares of Honeywell International during the 1st quarter valued at approximately $35,000. Financial Connections Group Inc. bought a new position in Honeywell International in the 2nd quarter worth approximately $38,000. Pathway Financial Advisers LLC bought a new position in Honeywell International in the 1st quarter worth approximately $39,000. Finally, New Covenant Trust Company N.A. purchased a new position in Honeywell International in the 1st quarter valued at approximately $42,000. 75.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HON shares. Wells Fargo & Company dropped their target price on Honeywell International from $215.00 to $207.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. StockNews.com cut Honeywell International from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Morgan Stanley initiated coverage on Honeywell International in a report on Friday, September 6th. They set an “equal weight” rating and a $210.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $214.00 price target on shares of Honeywell International in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. cut shares of Honeywell International from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $225.00 to $235.00 in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $223.56.

Honeywell International Stock Up 1.1 %

HON stock opened at $222.02 on Friday. The company’s 50 day moving average is $205.53 and its 200 day moving average is $204.79. The stock has a market cap of $144.58 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.45 and a beta of 1.03. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 1.19. Honeywell International Inc. has a 1-year low of $174.88 and a 1-year high of $222.07.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.07. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. The firm had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the prior year, the firm earned $2.23 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Honeywell International Inc. will post 10.1 EPS for the current fiscal year.

Honeywell International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $1.13 dividend. This is a boost from Honeywell International’s previous quarterly dividend of $1.08. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, November 15th. Honeywell International’s dividend payout ratio is presently 52.38%.

Honeywell International Company Profile

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company’s Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.