Tortoise Investment Management LLC Sells 85 Shares of Honeywell International Inc. (NASDAQ:HON)

Tortoise Investment Management LLC lessened its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 9.2% during the second quarter, Holdings Channel.com reports. The fund owned 834 shares of the conglomerate’s stock after selling 85 shares during the period. Tortoise Investment Management LLC’s holdings in Honeywell International were worth $178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Torray Investment Partners LLC boosted its position in Honeywell International by 0.3% in the fourth quarter. Torray Investment Partners LLC now owns 58,708 shares of the conglomerate’s stock valued at $12,312,000 after buying an additional 190 shares in the last quarter. Connectus Wealth LLC boosted its holdings in Honeywell International by 2.2% in the fourth quarter. Connectus Wealth LLC now owns 224,661 shares of the conglomerate’s stock valued at $47,128,000 after acquiring an additional 4,789 shares during the last quarter. Main Street Financial Solutions LLC boosted its stake in Honeywell International by 2.6% during the fourth quarter. Main Street Financial Solutions LLC now owns 4,561 shares of the conglomerate’s stock worth $956,000 after acquiring an additional 114 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in Honeywell International by 17.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 12,141 shares of the conglomerate’s stock valued at $2,546,000 after buying an additional 1,823 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. bought a new position in shares of Honeywell International in the fourth quarter valued at approximately $27,230,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Trading Down 1.5 %

Shares of HON opened at $204.86 on Wednesday. The stock has a market capitalization of $133.40 billion, a P/E ratio of 23.74, a PEG ratio of 2.37 and a beta of 1.04. The firm has a fifty day simple moving average of $207.10 and a two-hundred day simple moving average of $203.11. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 1.19. Honeywell International Inc. has a twelve month low of $174.88 and a twelve month high of $220.79.

Honeywell International (NASDAQ:HON) last announced its earnings results on Thursday, July 25th. The conglomerate reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.07. The firm had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.41 billion. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.23 EPS. On average, research analysts anticipate that Honeywell International Inc. will post 10.12 EPS for the current year.

Honeywell International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 2.11%. Honeywell International’s payout ratio is 50.06%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HON shares. Daiwa America raised Honeywell International to a “moderate buy” rating in a research report on Wednesday, June 5th. Royal Bank of Canada decreased their target price on Honeywell International from $218.00 to $214.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. StockNews.com downgraded shares of Honeywell International from a “buy” rating to a “hold” rating in a report on Friday, August 30th. UBS Group raised shares of Honeywell International from a “sell” rating to a “neutral” rating and boosted their target price for the company from $175.00 to $215.00 in a report on Monday, June 10th. Finally, Citigroup upped their price target on shares of Honeywell International from $243.00 to $244.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Honeywell International has a consensus rating of “Hold” and a consensus price target of $225.00.

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.