Red Door Wealth Management LLC Reduces Position in Honeywell International Inc. $HON

Red Door Wealth Management LLC trimmed its stake in Honeywell International Inc. (NASDAQ:HON) by 87.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,806 shares of the conglomerate’s stock after selling 26,686 shares during the period. Red Door Wealth Management LLC’s holdings in Honeywell International were worth $801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of HON. Bank of New York Mellon Corp increased its position in Honeywell International by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 6,777,498 shares of the conglomerate’s stock worth $1,578,344,000 after buying an additional 48,968 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Honeywell International by 9.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,038,080 shares of the conglomerate’s stock valued at $1,278,563,000 after acquiring an additional 505,083 shares during the period. Unisphere Establishment grew its stake in shares of Honeywell International by 8.1% during the 2nd quarter. Unisphere Establishment now owns 4,000,000 shares of the conglomerate’s stock valued at $931,520,000 after acquiring an additional 300,000 shares during the period. Legal & General Group Plc increased its holdings in Honeywell International by 3.9% in the 2nd quarter. Legal & General Group Plc now owns 3,725,789 shares of the conglomerate’s stock worth $867,663,000 after acquiring an additional 138,235 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its stake in Honeywell International by 23,503.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,716,532 shares of the conglomerate’s stock worth $865,506,000 after acquiring an additional 3,700,786 shares during the period. 75.91% of the stock is owned by institutional investors.

Honeywell International Stock Up 0.5%

HON opened at $199.11 on Friday. The company has a market capitalization of $126.41 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.66 and a beta of 0.96. The firm has a 50-day simple moving average of $198.46 and a two-hundred day simple moving average of $213.39. 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 52 week low of $169.21 and a 52 week high of $228.04.

Honeywell International (NASDAQ:HON) last issued its earnings results on Monday, December 11th. The conglomerate reported $2.25 earnings per share (EPS) for the quarter. Honeywell International had a return on equity of 38.11% and a net margin of 15.07%.The firm 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. Analysts forecast that Honeywell International Inc. will post 10.34 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 14th were issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Honeywell International’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Friday, November 14th. Honeywell International’s payout ratio is 50.16%.

Analysts Set New Price Targets

HON has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Honeywell International from $230.00 to $218.00 and set an “equal weight” rating for the company in a research report on Friday, November 14th. Barclays lowered their target price on shares of Honeywell International from $270.00 to $269.00 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. Royal Bank Of Canada upgraded Honeywell International from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $253.00 in a research note on Monday, October 27th. BNP Paribas Exane initiated coverage on Honeywell International in a report on Wednesday, December 3rd. They set a “neutral” rating and a $195.00 price target on the stock. Finally, Rothschild & Co Redburn dropped their price objective on Honeywell International from $240.00 to $222.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $236.56.

Honeywell International Profile

Honeywell International Inc is a diversified, publicly traded multinational conglomerate (NASDAQ: HON) that designs and manufactures a wide range of commercial and consumer products, engineering services and aerospace systems. The company operates through major business platforms that historically include Aerospace; Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. Its portfolio spans avionics and propulsion systems, building controls and HVAC equipment, process technologies and advanced materials, industrial automation software, and personal protective equipment and scanning solutions.

Honeywell’s aerospace business supplies aircraft manufacturers and operators with engines and auxiliary power units, avionics, flight safety systems and aftermarket services.