Putnam Investments LLC cut its holdings in Honeywell International Inc. (NYSE:HON) by 5.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,678,237 shares of the conglomerate’s stock after selling 154,210 shares during the period. Honeywell International accounts for about 1.0% of Putnam Investments LLC’s portfolio, making the stock its 15th largest holding. Putnam Investments LLC owned approximately 0.37% of Honeywell International worth $467,594,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Joseph P. Lucia & Associates LLC acquired a new position in Honeywell International during the first quarter worth $25,000. Lenox Wealth Advisors LLC lifted its stake in Honeywell International by 453.8% during the second quarter. Lenox Wealth Advisors LLC now owns 144 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 118 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in Honeywell International during the second quarter worth $25,000. Mackey Komara & Dankovich LLC acquired a new position in Honeywell International during the first quarter worth $29,000. Finally, Mcmillion Capital Management Inc. acquired a new position in Honeywell International during the second quarter worth $31,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Honeywell International from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Monday, July 22nd. Citigroup upped their price target on Honeywell International from $189.00 to $197.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Royal Bank of Canada set a $177.00 price target on Honeywell International and gave the stock a “buy” rating in a research note on Friday, July 19th. Morgan Stanley upped their price target on Honeywell International from $183.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, ValuEngine cut Honeywell International from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $183.58.
Honeywell International (NYSE:HON) last posted its quarterly earnings data on Thursday, July 18th. The conglomerate reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. Honeywell International had a return on equity of 32.02% and a net margin of 18.17%. The business had revenue of $9.24 billion for the quarter, compared to analyst estimates of $9.37 billion. During the same quarter in the prior year, the company earned $2.12 earnings per share. The company’s revenue was down 15.3% on a year-over-year basis. Research analysts expect that Honeywell International Inc. will post 8.1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, August 15th. Honeywell International’s dividend payout ratio is currently 40.95%.
In related news, CEO Rajeev Gautam sold 10,984 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $163.88, for a total value of $1,800,057.92. Following the transaction, the chief executive officer now owns 28,920 shares of the company’s stock, valued at $4,739,409.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Darius Adamczyk sold 7,149 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.08, for a total value of $1,180,156.92. Following the completion of the transaction, the chairman now directly owns 75,521 shares in the company, valued at approximately $12,467,006.68. The disclosure for this sale can be found here. Insiders have sold 25,133 shares of company stock worth $4,141,655 in the last ninety days. Corporate insiders own 0.73% of the company’s stock.
Honeywell International Profile
Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment supplies products, software, and services for aircrafts and vehicles. This 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 connected solutions and data services for the aftermarket, as well as provides wireless connectivity and management and technical services.
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