Bank Pictet & Cie Europe AG Sells 29,040 Shares of Honeywell International Inc. (NASDAQ:HON)

Bank Pictet & Cie Europe AG lessened its stake in Honeywell International Inc. (NASDAQ:HON) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,570 shares of the conglomerate’s stock after selling 29,040 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Honeywell International were worth $38,359,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LGT Group Foundation purchased a new position in shares of Honeywell International during the first quarter valued at $26,000. Richardson Capital Management LLC bought a new stake in shares of Honeywell International in the 1st quarter valued at about $35,000. Financial Connections Group Inc. purchased a new stake in shares of Honeywell International in the 2nd quarter worth approximately $38,000. Pathway Financial Advisers LLC bought a new position in shares of Honeywell International during the first quarter valued at approximately $39,000. Finally, TruNorth Capital Management LLC purchased a new position in Honeywell International during the second quarter valued at approximately $43,000. Institutional investors own 75.91% of the company’s stock.

Honeywell International Stock Up 0.4 %

NASDAQ:HON opened at $222.35 on Wednesday. The company’s 50 day moving average is $206.54 and its two-hundred day moving average is $205.19. The company has a market cap of $144.79 billion, a PE ratio of 25.76, a P/E/G ratio of 2.45 and a beta of 1.03. Honeywell International Inc. has a twelve month low of $174.88 and a twelve month high of $222.98. 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 (NASDAQ:HON) last announced 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 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 business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.23 earnings per share. Analysts anticipate that Honeywell International Inc. will post 10.1 EPS for the current year.

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. The ex-dividend date is Friday, November 15th. This represents a $4.52 dividend on an annualized basis and a yield of 2.03%. This is a positive change from Honeywell International’s previous quarterly dividend of $1.08. Honeywell International’s dividend payout ratio is currently 52.38%.

Wall Street Analysts Forecast Growth

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

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.