Royal Fund Management LLC Sells 2,757 Shares of Honeywell International Inc. $HON

Royal Fund Management LLC trimmed its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 30.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,311 shares of the conglomerate’s stock after selling 2,757 shares during the quarter. Royal Fund Management LLC’s holdings in Honeywell International were worth $1,470,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HON. Chung Wu Investment Group LLC bought a new stake in shares of Honeywell International during the second quarter worth $26,000. RMG Wealth Management LLC bought a new stake in Honeywell International in the 2nd quarter valued at $33,000. Activest Wealth Management boosted its stake in Honeywell International by 425.9% in the 2nd quarter. Activest Wealth Management now owns 142 shares of the conglomerate’s stock worth $33,000 after purchasing an additional 115 shares during the period. Pandora Wealth Inc. bought a new position in Honeywell International during the 1st quarter worth about $33,000. Finally, Dogwood Wealth Management LLC raised its stake in shares of Honeywell International by 143.9% in the 2nd quarter. Dogwood Wealth Management LLC now owns 161 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 95 shares during the period. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Trading Down 0.6%

Shares of Honeywell International stock opened at $192.23 on Friday. The stock has a market cap of $122.04 billion, a P/E ratio of 20.26, a P/E/G ratio of 2.63 and a beta of 0.96. The company has a quick ratio of 1.04, a current ratio of 1.36 and a debt-to-equity ratio of 1.70. Honeywell International Inc. has a 12-month low of $169.21 and a 12-month high of $228.04. The business’s 50 day moving average is $201.37 and its 200-day moving average is $215.71.

Honeywell International (NASDAQ:HON) last issued its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share for the quarter. Honeywell International had a net margin of 15.07% and a return on equity of 38.11%. The business had revenue of $8.95 billion for the quarter. Honeywell International has set its Q4 2023 guidance at 2.530-2.630 EPS and its FY 2023 guidance at 9.100-9.200 EPS. Equities research analysts predict that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.13. Honeywell International’s payout ratio is currently 50.16%.

Analyst Ratings Changes

Several research firms have recently weighed in on HON. Argus reduced their price objective on Honeywell International from $250.00 to $225.00 in a research report on Friday, November 14th. Rothschild & Co Redburn reduced their price target on Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Bank of America reaffirmed an “underperform” rating and set a $205.00 price target (down from $265.00) on shares of Honeywell International in a research note on Tuesday, November 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Honeywell International in a research report on Monday. Finally, Jefferies Financial Group decreased their target price on shares of Honeywell International from $230.00 to $220.00 in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Honeywell International currently has a consensus rating of “Hold” and a consensus price target of $236.71.

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.