Magnolia Capital Management Ltd. Lowers Holdings in Honeywell International Inc. (NASDAQ:HON)

Magnolia Capital Management Ltd. trimmed its holdings in Honeywell International Inc. (NASDAQ:HON) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,500 shares of the conglomerate’s stock after selling 250 shares during the period. Magnolia Capital Management Ltd.’s holdings in Honeywell International were worth $723,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in HON. CGN Advisors LLC raised its position in Honeywell International by 8.2% during the first quarter. CGN Advisors LLC now owns 1,817 shares of the conglomerate’s stock valued at $373,000 after purchasing an additional 138 shares during the period. Community Bank of Raymore raised its position in Honeywell International by 32.9% during the first quarter. Community Bank of Raymore now owns 3,917 shares of the conglomerate’s stock valued at $804,000 after purchasing an additional 970 shares during the period. DLK Investment Management LLC raised its position in Honeywell International by 5.4% during the first quarter. DLK Investment Management LLC now owns 28,217 shares of the conglomerate’s stock valued at $5,792,000 after purchasing an additional 1,433 shares during the period. Shorepath Capital Management LLC raised its position in Honeywell International by 6.4% during the first quarter. Shorepath Capital Management LLC now owns 29,041 shares of the conglomerate’s stock valued at $5,961,000 after purchasing an additional 1,738 shares during the period. Finally, Prentice Wealth Management LLC raised its position in Honeywell International by 4.2% during the first quarter. Prentice Wealth Management LLC now owns 2,533 shares of the conglomerate’s stock valued at $520,000 after purchasing an additional 102 shares during the period. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Honeywell International Trading Down 0.0 %

Shares of NASDAQ HON traded down $0.06 during mid-day trading on Tuesday, reaching $221.44. 1,708,055 shares of the company’s stock were exchanged, compared to its average volume of 2,837,497. The firm has a market capitalization of $144.20 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.45 and a beta of 1.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.91 and a current ratio of 1.21. Honeywell International Inc. has a 52-week low of $174.88 and a 52-week high of $222.98. The company’s 50-day moving average is $206.02 and its 200-day moving average is $205.01.

Honeywell International (NASDAQ:HON) last released its quarterly 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. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The business had revenue of $9.58 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the prior year, the business posted $2.23 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Honeywell International Inc. will post 10.1 EPS 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 given a $1.13 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.52 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Honeywell International’s previous quarterly dividend of $1.08. Honeywell International’s dividend payout ratio (DPR) is currently 52.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HON shares. StockNews.com cut Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Morgan Stanley started coverage on Honeywell International in a research note on Friday, September 6th. They set an “equal weight” rating and a $210.00 target price on the stock. Wells Fargo & Company cut their target price on 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. JPMorgan Chase & Co. cut Honeywell International from an “overweight” rating to a “neutral” rating and upped their target price for the company from $225.00 to $235.00 in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $214.00 target price on shares of Honeywell International in a research note on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $223.56.

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.