MainStreet Investment Advisors LLC Has $14.63 Million Stake in Honeywell International Inc. (NASDAQ:HON)

MainStreet Investment Advisors LLC cut its position in Honeywell International Inc. (NASDAQ:HON) by 7.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,529 shares of the conglomerate’s stock after selling 5,519 shares during the quarter. Honeywell International accounts for about 1.8% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 12th largest holding. MainStreet Investment Advisors LLC’s holdings in Honeywell International were worth $14,634,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Chris Bulman Inc acquired a new stake in Honeywell International in the second quarter valued at about $624,000. Strategic Financial Concepts LLC bought a new position in shares of Honeywell International in the second quarter worth about $330,000. Norden Group LLC lifted its holdings in shares of Honeywell International by 14.8% in the second quarter. Norden Group LLC now owns 2,475 shares of the conglomerate’s stock worth $529,000 after acquiring an additional 319 shares during the last quarter. Chicago Capital LLC grew its holdings in shares of Honeywell International by 1.7% during the 2nd quarter. Chicago Capital LLC now owns 10,287 shares of the conglomerate’s stock valued at $2,197,000 after purchasing an additional 173 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Honeywell International by 13.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,463 shares of the conglomerate’s stock worth $5,010,000 after purchasing an additional 2,869 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company’s stock.

Analysts Set New Price Targets

HON has been the topic of a number of research analyst reports. 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 reduced their price objective on Honeywell International from $220.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Friday, July 26th. Morgan Stanley started coverage on Honeywell International in a research report on Friday. They issued an “equal weight” rating and a $210.00 target price for the company. Daiwa America upgraded Honeywell International to a “moderate buy” rating in a report on Wednesday, June 5th. Finally, Royal Bank of Canada dropped their price objective on shares of Honeywell International from $218.00 to $214.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $223.13.

Honeywell International Stock Performance

Shares of HON stock opened at $198.13 on Friday. The business’s 50 day simple moving average is $206.41 and its 200 day simple moving average is $203.16. 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 one year low of $174.88 and a one year high of $220.79. The stock has a market capitalization of $129.02 billion, a PE ratio of 22.96, a PEG ratio of 2.37 and a beta of 1.03.

Honeywell International (NASDAQ:HON) last released 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 net margin of 15.49% and a return on equity of 36.87%. The business had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the previous year, the business earned $2.23 earnings per share. Honeywell International’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Honeywell International Inc. will post 10.12 earnings per share for the current year.

Honeywell International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were issued a $1.08 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 2.18%. Honeywell International’s payout ratio is currently 50.06%.

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.