Patten Group Inc. Reduces Stock Holdings in Honeywell International Inc. (NASDAQ:HON)

Patten Group Inc. lowered its position in Honeywell International Inc. (NASDAQ:HON) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,022 shares of the conglomerate’s stock after selling 563 shares during the quarter. Patten Group Inc.’s holdings in Honeywell International were worth $2,278,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sanibel Captiva Trust Company Inc. lifted its position in Honeywell International by 0.7% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 125,184 shares of the conglomerate’s stock valued at $25,877,000 after buying an additional 913 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Honeywell International by 15.6% during the third quarter. Hexagon Capital Partners LLC now owns 1,897 shares of the conglomerate’s stock worth $392,000 after purchasing an additional 256 shares in the last quarter. Abner Herrman & Brock LLC lifted its position in shares of Honeywell International by 14.6% during the third quarter. Abner Herrman & Brock LLC now owns 2,277 shares of the conglomerate’s stock worth $471,000 after purchasing an additional 290 shares in the last quarter. CWM LLC lifted its position in shares of Honeywell International by 3.4% during the third quarter. CWM LLC now owns 42,031 shares of the conglomerate’s stock worth $8,688,000 after purchasing an additional 1,373 shares in the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in shares of Honeywell International by 0.9% during the third quarter. Daymark Wealth Partners LLC now owns 131,662 shares of the conglomerate’s stock worth $27,216,000 after purchasing an additional 1,165 shares in the last quarter. Hedge funds and other 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 began coverage on shares of Honeywell International in a research report on Friday, September 6th. They set an “equal weight” rating and a $210.00 price target on the stock. 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. Royal Bank of Canada restated a “sector perform” rating and set a $214.00 target price on shares of Honeywell International in a research note on Thursday, September 26th. StockNews.com lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. lowered shares of Honeywell International from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $225.00 to $235.00 in a research note on Thursday. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Honeywell International presently has a consensus rating of “Hold” and an average price target of $223.56.

Honeywell International Price Performance

Honeywell International stock opened at $213.70 on Thursday. Honeywell International Inc. has a one year low of $174.88 and a one year high of $220.79. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.91 and a current ratio of 1.21. The business has a fifty day moving average of $202.90 and a two-hundred day moving average of $203.97. The company has a market cap of $139.16 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 2.32 and a beta of 1.03.

Honeywell International (NASDAQ:HON) last released its earnings results on Thursday, July 25th. The conglomerate reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.07. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The company had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter last year, the company earned $2.23 earnings per share. Honeywell International’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts predict that Honeywell International Inc. will post 10.11 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The company 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 2.12%. The ex-dividend date is Friday, November 15th. This is an increase from Honeywell International’s previous quarterly dividend of $1.08. Honeywell International’s payout ratio is 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.