Cornercap Investment Counsel Inc. Sells 2,724 Shares of Honeywell International Inc. (NASDAQ:HON)

Cornercap Investment Counsel Inc. trimmed its stake in Honeywell International Inc. (NASDAQ:HON) by 42.6% during the third quarter, Holdings Channel reports. The fund owned 3,669 shares of the conglomerate’s stock after selling 2,724 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Honeywell International were worth $758,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. LGT Group Foundation bought a new stake in shares of Honeywell International during the first quarter worth $26,000. Reston Wealth Management LLC acquired a new position in shares of Honeywell International during the third quarter worth about $29,000. Planning Capital Management Corp boosted its position in Honeywell International by 96.4% during the third quarter. Planning Capital Management Corp now owns 165 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 81 shares during the last quarter. Financial Connections Group Inc. bought a new stake in Honeywell International in the second quarter valued at approximately $38,000. Finally, Pathway Financial Advisers LLC bought a new stake in Honeywell International in the first quarter valued at approximately $39,000. 75.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Baird R W lowered Honeywell International from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. StockNews.com raised Honeywell International from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Royal Bank of Canada raised their target price on Honeywell International from $213.00 to $253.00 and gave the company a “sector perform” rating in a report on Wednesday. Robert W. Baird downgraded Honeywell International from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $223.00 to $217.00 in a report on Friday, October 25th. Finally, Bank of America raised their price objective on Honeywell International from $220.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Honeywell International has a consensus rating of “Hold” and a consensus target price of $241.45.

Honeywell International Stock Performance

HON stock opened at $228.99 on Friday. The stock has a 50-day moving average price of $211.39 and a 200-day moving average price of $207.74. Honeywell International Inc. has a 1-year low of $189.66 and a 1-year high of $242.77. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 1.44. The firm has a market cap of $148.90 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.77 and a beta of 1.03.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 1.97%. This is a positive change from Honeywell International’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, November 15th. Honeywell International’s payout ratio is presently 49.88%.

About Honeywell International

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.