Louisiana State Employees Retirement System Sells 2,200 Shares of Honeywell International Inc. (NASDAQ:HON)

Louisiana State Employees Retirement System cut its position in Honeywell International Inc. (NASDAQ:HON) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,300 shares of the conglomerate’s stock after selling 2,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Honeywell International were worth $17,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. LGT Group Foundation purchased a new stake in Honeywell International in the 1st quarter worth $26,000. Richardson Capital Management LLC purchased a new stake in shares of Honeywell International during the first quarter worth about $35,000. Financial Connections Group Inc. bought a new stake in Honeywell International during the 2nd quarter valued at approximately $38,000. Pathway Financial Advisers LLC bought a new stake in Honeywell International during the 1st quarter valued at approximately $39,000. Finally, New Covenant Trust Company N.A. bought a new stake in Honeywell International during the 1st quarter valued at approximately $42,000. 75.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HON has been the topic of several recent analyst reports. Citigroup decreased their target price on Honeywell International from $248.00 to $244.00 and set a “buy” rating on the stock in a research note on Friday. Barclays decreased their target price on Honeywell International from $232.00 to $229.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank of Canada decreased their target price on Honeywell International from $214.00 to $213.00 and set a “sector perform” rating on the stock in a research note on Friday. Morgan Stanley initiated 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. Finally, JPMorgan Chase & Co. reduced their price objective on Honeywell International from $235.00 to $233.00 and set a “neutral” rating on the stock in a research note on Friday. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Honeywell International has a consensus rating of “Hold” and a consensus price target of $223.73.

Honeywell International Price Performance

Shares of Honeywell International stock opened at $208.00 on Friday. The stock has a market cap of $135.45 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $207.39 and a 200-day moving average price of $205.39. Honeywell International Inc. has a one year low of $174.88 and a one year high of $222.98.

Honeywell International (NASDAQ:HON) last announced its earnings results on Thursday, October 24th. The conglomerate reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.08. The firm had revenue of $9.73 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. Equities analysts expect that Honeywell International Inc. will post 10.1 EPS for the current year.

Honeywell International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 15th will be issued a $1.13 dividend. This is a boost from Honeywell International’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, November 15th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.17%. Honeywell International’s payout ratio is 52.38%.

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.