Canada Pension Plan Investment Board Sells 511,350 Shares of Honeywell International Inc. (NASDAQ:HON)

Canada Pension Plan Investment Board decreased its holdings in shares of Honeywell International Inc. (NASDAQ:HON) by 70.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 215,877 shares of the conglomerate’s stock after selling 511,350 shares during the period. Canada Pension Plan Investment Board’s holdings in Honeywell International were worth $46,098,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Honeywell International by 32.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,840,959 shares of the conglomerate’s stock valued at $1,644,328,000 after buying an additional 1,899,373 shares in the last quarter. Capital Wealth Planning LLC acquired a new stake in shares of Honeywell International in the 2nd quarter valued at $392,478,000. Natixis grew its holdings in shares of Honeywell International by 184.8% in the 1st quarter. Natixis now owns 838,716 shares of the conglomerate’s stock worth $172,146,000 after purchasing an additional 544,175 shares during the last quarter. Capital Research Global Investors increased its position in shares of Honeywell International by 20.4% during the 4th quarter. Capital Research Global Investors now owns 3,189,925 shares of the conglomerate’s stock worth $668,959,000 after purchasing an additional 539,644 shares in the last quarter. Finally, First Financial Bankshares Inc bought a new position in Honeywell International during the 4th quarter valued at about $72,580,000. 75.91% of the stock is owned by institutional investors and hedge funds.

Honeywell International Price Performance

Honeywell International stock opened at $203.35 on Friday. The business’s 50-day simple moving average is $204.50 and its 200 day simple moving average is $203.46. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 1.19. The stock has a market cap of $132.42 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 2.32 and a beta of 1.03. Honeywell International Inc. has a 12-month low of $174.88 and a 12-month high of $220.79.

Honeywell International (NASDAQ:HON) last issued its earnings results on Thursday, July 25th. The conglomerate reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.07. The company had revenue of $9.58 billion for 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%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 EPS. As a group, research analysts anticipate that Honeywell International Inc. will post 10.11 earnings per share for the current year.

Honeywell International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 16th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, August 16th. Honeywell International’s dividend payout ratio (DPR) is currently 50.06%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com cut shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Royal Bank of Canada decreased their price target on Honeywell International from $218.00 to $214.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Citigroup lifted their price objective on Honeywell International from $243.00 to $244.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Morgan Stanley assumed coverage on Honeywell International in a report on Friday, September 6th. They set an “equal weight” rating and a $210.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on Honeywell International from $220.00 to $215.00 and set an “equal weight” rating for the company in a report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Honeywell International has a consensus rating of “Hold” and an average target price of $223.13.

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.