Gateway Advisory LLC Cuts Stake in Honeywell International Inc. (NASDAQ:HON)

Gateway Advisory LLC cut its position in Honeywell International Inc. (NASDAQ:HON) by 8.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,214 shares of the conglomerate’s stock after selling 117 shares during the period. Gateway Advisory LLC’s holdings in Honeywell International were worth $259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. LGT Group Foundation bought a new position in Honeywell International in the 1st quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in shares of Honeywell International during the fourth quarter valued at $27,000. Richardson Capital Management LLC purchased a new stake in shares of Honeywell International during the first quarter valued at $35,000. Financial Connections Group Inc. bought a new stake in Honeywell International in the 2nd quarter worth about $38,000. Finally, Pathway Financial Advisers LLC purchased a new position in Honeywell International in the 1st quarter worth about $39,000. Institutional investors own 75.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HON. Wells Fargo & Company dropped their price target on shares of Honeywell International from $220.00 to $215.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Daiwa America upgraded shares of Honeywell International to a “moderate buy” rating in a research note on Wednesday, June 5th. UBS Group upgraded Honeywell International from a “sell” rating to a “neutral” rating and raised their price target for the stock from $175.00 to $215.00 in a research note on Monday, June 10th. Citigroup boosted their target price on shares of Honeywell International from $243.00 to $244.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Finally, Morgan Stanley began coverage on Honeywell International in a research report on Friday, September 6th. They issued an “equal weight” rating and a $210.00 price target for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Honeywell International presently has a consensus rating of “Hold” and a consensus price target of $223.13.

Honeywell International Trading Up 0.2 %

HON stock opened at $203.77 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.21 and a quick ratio of 0.91. Honeywell International Inc. has a 1-year low of $174.88 and a 1-year high of $220.79. The business has a 50 day simple moving average of $204.26 and a two-hundred day simple moving average of $203.49. The company has a market capitalization of $132.69 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.32 and a beta of 1.03.

Honeywell International (NASDAQ:HON) last issued its earnings results 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. The firm had revenue of $9.58 billion during the quarter, compared to analyst estimates of $9.41 billion. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. Honeywell International’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share. Research analysts anticipate that Honeywell International Inc. will post 10.11 EPS for the current fiscal year.

Honeywell International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, August 16th. Honeywell International’s payout ratio is presently 50.06%.

Honeywell International 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.