Grassi Investment Management Has $12.60 Million Stock Holdings in Honeywell International Inc. (NASDAQ:HON)

Grassi Investment Management cut its holdings in Honeywell International Inc. (NASDAQ:HON) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,969 shares of the conglomerate’s stock after selling 765 shares during the quarter. Honeywell International comprises approximately 1.1% of Grassi Investment Management’s holdings, making the stock its 23rd largest position. Grassi Investment Management’s holdings in Honeywell International were worth $12,603,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. LGT Group Foundation bought a new position in shares of Honeywell International in the first quarter valued at approximately $26,000. Richardson Capital Management LLC acquired a new position in Honeywell International during the 1st quarter worth $35,000. Financial Connections Group Inc. acquired a new position in Honeywell International during the 2nd quarter worth $38,000. Pathway Financial Advisers LLC acquired a new stake in shares of Honeywell International in the first quarter valued at about $39,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Honeywell International in the first quarter valued at about $42,000. Institutional investors and hedge funds own 75.91% of the company’s stock.

Honeywell International Stock Performance

Shares of Honeywell International stock opened at $220.34 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.21 and a quick ratio of 0.91. Honeywell International Inc. has a fifty-two week low of $174.88 and a fifty-two week high of $222.98. The firm has a market cap of $143.48 billion, a P/E ratio of 25.53, a P/E/G ratio of 2.45 and a beta of 1.03. The firm has a 50 day simple moving average of $206.99 and a 200 day simple moving average of $205.30.

Honeywell International (NASDAQ:HON) last released its 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 during the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the previous year, the business earned $2.23 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Honeywell International Inc. will post 10.1 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The company also recently declared 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 dividend yield of 2.05%. This is an increase from Honeywell International’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, November 15th. Honeywell International’s dividend payout ratio (DPR) is currently 52.38%.

Analyst Upgrades and Downgrades

HON has been the subject of several recent analyst reports. StockNews.com downgraded Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Morgan Stanley began coverage on Honeywell International in a research report on Friday, September 6th. They issued an “equal weight” rating and a $210.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of 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. JPMorgan Chase & Co. downgraded shares of 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 report on Thursday, October 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $214.00 price target on shares of Honeywell International in a research report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $223.56.

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.