Honeywell International Inc. (HON) Shares Sold by Pendal Group Ltd

Pendal Group Ltd lessened its holdings in Honeywell International Inc. (NYSE:HON) by 73.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,967 shares of the conglomerate’s stock after selling 60,442 shares during the period. Pendal Group Ltd’s holdings in Honeywell International were worth $3,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Warren Averett Asset Management LLC increased its position in Honeywell International by 8.0% in the third quarter. Warren Averett Asset Management LLC now owns 5,425 shares of the conglomerate’s stock worth $903,000 after purchasing an additional 401 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Honeywell International by 5.1% in the third quarter. Gulf International Bank UK Ltd now owns 254,402 shares of the conglomerate’s stock worth $41,861,000 after purchasing an additional 12,419 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Honeywell International by 0.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 119,844 shares of the conglomerate’s stock worth $19,942,000 after purchasing an additional 1,100 shares during the last quarter. BP PLC increased its position in Honeywell International by 7.2% in the third quarter. BP PLC now owns 92,200 shares of the conglomerate’s stock worth $15,340,000 after purchasing an additional 6,200 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Honeywell International by 76.2% in the third quarter. American Century Companies Inc. now owns 1,559,164 shares of the conglomerate’s stock worth $259,445,000 after purchasing an additional 674,377 shares during the last quarter. Institutional investors own 71.42% of the company’s stock.

A number of research analysts have weighed in on HON shares. Gordon Haskett started coverage on shares of Honeywell International in a research report on Friday, October 12th. They set a “buy” rating on the stock. Morgan Stanley set a $170.00 price objective on shares of Honeywell International and gave the company a “buy” rating in a research report on Monday, October 22nd. Credit Suisse Group cut their price objective on shares of Honeywell International from $165.00 to $158.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 30th. Oppenheimer boosted their price objective on shares of Honeywell International from $172.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, September 26th. Finally, Cowen reiterated a “buy” rating and set a $168.00 price objective on shares of Honeywell International in a research report on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $172.90.

Shares of HON opened at $150.32 on Friday. The firm has a market cap of $111.45 billion, a PE ratio of 21.14, a P/E/G ratio of 1.92 and a beta of 1.04. Honeywell International Inc. has a 12-month low of $139.30 and a 12-month high of $167.72. The company has a quick ratio of 1.20, a current ratio of 1.49 and a debt-to-equity ratio of 0.76.

Honeywell International (NYSE:HON) last issued its earnings results on Friday, October 19th. The conglomerate reported $2.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.04. The firm had revenue of $10.76 billion during the quarter, compared to analyst estimates of $10.75 billion. Honeywell International had a net margin of 6.13% and a return on equity of 33.69%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 earnings per share. Analysts predict that Honeywell International Inc. will post 7.98 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 16th will be paid a dividend of $0.82 per share. This is a positive change from Honeywell International’s previous quarterly dividend of $0.75. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, November 15th. Honeywell International’s payout ratio is currently 41.91%.

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About Honeywell International

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Honeywell International (NYSE:HON)

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