Factory Mutual Insurance Co. Cuts Stock Position in Honeywell International Inc. (NASDAQ:HON)

Factory Mutual Insurance Co. decreased its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 11.3% in the third quarter, Holdings Channel reports. The institutional investor owned 231,400 shares of the conglomerate’s stock after selling 29,400 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Honeywell International were worth $47,833,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in HON. CHICAGO TRUST Co NA grew its holdings in shares of Honeywell International by 9.5% during the third quarter. CHICAGO TRUST Co NA now owns 13,673 shares of the conglomerate’s stock valued at $2,826,000 after buying an additional 1,187 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Honeywell International by 112.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,711 shares of the conglomerate’s stock valued at $974,000 after purchasing an additional 2,490 shares during the last quarter. Carnegie Investment Counsel increased its holdings in shares of Honeywell International by 17.0% in the 3rd quarter. Carnegie Investment Counsel now owns 39,228 shares of the conglomerate’s stock worth $8,109,000 after purchasing an additional 5,687 shares in the last quarter. Cardinal Capital Management Inc. lifted its holdings in shares of Honeywell International by 2.4% during the third quarter. Cardinal Capital Management Inc. now owns 125,750 shares of the conglomerate’s stock valued at $25,994,000 after purchasing an additional 2,905 shares in the last quarter. Finally, Annex Advisory Services LLC increased its holdings in Honeywell International by 10.5% in the 3rd quarter. Annex Advisory Services LLC now owns 45,666 shares of the conglomerate’s stock worth $9,440,000 after buying an additional 4,325 shares in the last quarter. 75.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HON has been the topic of several research reports. 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 target price on the stock. StockNews.com lowered shares of Honeywell International from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Wells Fargo & Company dropped 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 note on Monday, October 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $214.00 price objective on shares of Honeywell International in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. downgraded Honeywell International from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $225.00 to $235.00 in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Honeywell International has an average rating of “Hold” and a consensus target price of $223.56.

Honeywell International Price Performance

HON stock traded up $2.39 during trading on Friday, reaching $215.99. The company’s stock had a trading volume of 3,809,522 shares, compared to its average volume of 2,831,241. The company’s fifty day moving average is $203.51 and its 200-day moving average is $204.24. Honeywell International Inc. has a 1 year low of $174.88 and a 1 year high of $220.79. The company has a market capitalization of $140.65 billion, a P/E ratio of 25.03, 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 (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. 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 for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter last year, the company earned $2.23 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, research analysts expect that Honeywell International Inc. will post 10.1 earnings per share for the current fiscal year.

Honeywell International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $1.13 dividend. This is an increase from Honeywell International’s previous quarterly dividend of $1.08. This represents a $4.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, November 15th. Honeywell International’s payout ratio is currently 52.38%.

About Honeywell International

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.