Corundum Group Inc. Lowers Stock Position in Honeywell International Inc. (NASDAQ:HON)

Corundum Group Inc. trimmed its position in Honeywell International Inc. (NASDAQ:HON) by 34.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,043 shares of the conglomerate’s stock after selling 2,683 shares during the quarter. Corundum Group Inc.’s holdings in Honeywell International were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HON. Global Assets Advisory LLC bought a new position in shares of Honeywell International in the first quarter worth about $19,374,000. CGN Advisors LLC lifted its holdings in shares of Honeywell International by 8.2% in the first quarter. CGN Advisors LLC now owns 1,817 shares of the conglomerate’s stock worth $373,000 after buying an additional 138 shares in the last quarter. Strategic Planning Group LLC grew its stake in Honeywell International by 16.8% during the first quarter. Strategic Planning Group LLC now owns 12,730 shares of the conglomerate’s stock valued at $2,613,000 after acquiring an additional 1,830 shares in the last quarter. Jacobs & Co. CA increased its holdings in Honeywell International by 2.1% in the 1st quarter. Jacobs & Co. CA now owns 61,874 shares of the conglomerate’s stock valued at $12,699,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in Honeywell International in the 1st quarter worth $141,000. Institutional investors own 75.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HON. Morgan Stanley started coverage on Honeywell International in a report on Friday, September 6th. They issued an “equal weight” rating and a $210.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $214.00 price objective on shares of Honeywell International in a research note on Thursday, September 26th. StockNews.com downgraded Honeywell International from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Wells Fargo & Company reduced their price target 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. Finally, JPMorgan Chase & Co. cut shares of Honeywell International from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $225.00 to $235.00 in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $223.56.

Honeywell International Trading Up 1.1 %

HON stock opened at $222.02 on Monday. The firm’s fifty day simple moving average is $205.53 and its two-hundred day simple moving average is $204.83. The stock has a market capitalization of $144.58 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 2.45 and a beta of 1.03. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 1.19. Honeywell International Inc. has a twelve month low of $174.88 and a twelve month high of $222.07.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.49 earnings per share 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 company had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period in the prior year, the company posted $2.23 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Honeywell International Inc. will post 10.1 earnings per share for the current year.

Honeywell International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Honeywell International’s previous quarterly dividend of $1.08. Honeywell International’s payout ratio is currently 52.38%.

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.