Naviter Wealth LLC Decreases Position in Honeywell International Inc. (NASDAQ:HON)

Naviter Wealth LLC decreased its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 0.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,940 shares of the conglomerate’s stock after selling 65 shares during the period. Naviter Wealth LLC’s holdings in Honeywell International were worth $2,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. LGT Group Foundation purchased a new position in shares of Honeywell International in the first quarter worth about $26,000. Scarborough Advisors LLC acquired a new position in shares of Honeywell International during the fourth quarter valued at approximately $27,000. Richardson Capital Management LLC acquired a new stake in shares of Honeywell International in the first quarter worth approximately $35,000. Financial Connections Group Inc. acquired a new position in Honeywell International in the 2nd quarter valued at $38,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Honeywell International during the 1st quarter worth $39,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Honeywell International Stock Performance

Shares of HON traded up $0.87 during midday trading on Thursday, reaching $219.83. 229,369 shares of the stock were exchanged, compared to its average volume of 2,818,468. Honeywell International Inc. has a twelve month low of $174.88 and a twelve month high of $220.79. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.21 and a quick ratio of 0.91. The company has a market capitalization of $143.15 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.45 and a beta of 1.03. The business’s 50-day moving average price is $204.66 and its 200 day moving average price is $204.51.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings data 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 company had revenue of $9.58 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.23 earnings per share. On average, sell-side analysts expect that Honeywell International Inc. will post 10.1 EPS for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.06%. This is a boost from Honeywell International’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, November 15th. Honeywell International’s dividend payout ratio is presently 52.38%.

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.