Mechanics Financial Corp Reduces Stock Position in Honeywell International Inc. (NASDAQ:HON)

Mechanics Financial Corp lowered its position in Honeywell International Inc. (NASDAQ:HON) by 43.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,402 shares of the conglomerate’s stock after selling 4,068 shares during the period. Mechanics Financial Corp’s holdings in Honeywell International were worth $1,220,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Howard Capital Management Group LLC grew its position in shares of Honeywell International by 6.7% in the third quarter. Howard Capital Management Group LLC now owns 2,760 shares of the conglomerate’s stock valued at $571,000 after purchasing an additional 174 shares during the last quarter. United Bank increased its position in Honeywell International by 2.8% during the third quarter. United Bank now owns 8,183 shares of the conglomerate’s stock worth $1,692,000 after buying an additional 220 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Honeywell International by 12.5% in the third quarter. Townsquare Capital LLC now owns 23,250 shares of the conglomerate’s stock valued at $4,806,000 after acquiring an additional 2,589 shares in the last quarter. Freedom Investment Management Inc. boosted its stake in shares of Honeywell International by 10.9% during the third quarter. Freedom Investment Management Inc. now owns 3,354 shares of the conglomerate’s stock valued at $693,000 after acquiring an additional 329 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in Honeywell International in the 3rd quarter valued at about $230,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on HON. Royal Bank of Canada lowered their price target on shares of Honeywell International from $253.00 to $236.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. HSBC raised Honeywell International from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on Honeywell International from $240.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Citigroup lowered their price target on Honeywell International from $268.00 to $266.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Honeywell International from $233.00 to $231.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $249.08.

Insider Buying and Selling

In other news, VP Anne T. Madden sold 28,885 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $207.89, for a total transaction of $6,004,902.65. Following the completion of the sale, the vice president now owns 41,580 shares of the company’s stock, valued at approximately $8,644,066.20. This trade represents a 40.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by insiders.

Honeywell International Stock Down 1.8 %

Shares of NASDAQ HON opened at $210.34 on Friday. The stock has a fifty day moving average price of $213.21 and a 200 day moving average price of $216.87. The company has a market cap of $136.70 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.51 and a beta of 1.08. Honeywell International Inc. has a 12-month low of $189.75 and a 12-month high of $242.77. The company has a current ratio of 1.31, a quick ratio of 1.01 and a debt-to-equity ratio of 1.33.

Honeywell International (NASDAQ:HON) last announced its earnings results on Thursday, February 6th. The conglomerate reported $2.47 EPS for the quarter, beating the consensus estimate of $2.37 by $0.10. Honeywell International had a return on equity of 35.78% and a net margin of 14.82%. Research analysts anticipate that Honeywell International Inc. will post 10.34 EPS for the current fiscal year.

Honeywell International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Friday, February 28th. Honeywell International’s payout ratio is 51.89%.

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.