Freestone Capital Holdings LLC Cuts Stake in Honeywell (HON)

Freestone Capital Holdings LLC cut its position in Honeywell (NYSE:HON) by 2.8% during the first quarter, HoldingsChannel.com reports. The firm owned 14,598 shares of the conglomerate’s stock after selling 427 shares during the period. Freestone Capital Holdings LLC’s holdings in Honeywell were worth $2,110,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the company. Webster Bank N. A. grew its holdings in Honeywell by 3.5% during the fourth quarter. Webster Bank N. A. now owns 9,175 shares of the conglomerate’s stock worth $1,407,000 after acquiring an additional 314 shares during the period. IFC Holdings Incorporated FL grew its holdings in Honeywell by 15.4% during the fourth quarter. IFC Holdings Incorporated FL now owns 2,367 shares of the conglomerate’s stock worth $365,000 after acquiring an additional 316 shares during the period. Congress Asset Management Co. MA grew its holdings in Honeywell by 19.0% during the fourth quarter. Congress Asset Management Co. MA now owns 2,040 shares of the conglomerate’s stock worth $313,000 after acquiring an additional 325 shares during the period. SVA Plumb Wealth Management LLC grew its holdings in Honeywell by 1.0% during the fourth quarter. SVA Plumb Wealth Management LLC now owns 33,844 shares of the conglomerate’s stock worth $5,190,000 after acquiring an additional 342 shares during the period. Finally, Brave Asset Management Inc. grew its holdings in Honeywell by 3.6% during the fourth quarter. Brave Asset Management Inc. now owns 10,202 shares of the conglomerate’s stock worth $1,565,000 after acquiring an additional 350 shares during the period. 74.24% of the stock is currently owned by institutional investors and hedge funds.

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Several analysts recently commented on the company. Zacks Investment Research lowered Honeywell from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Stifel Nicolaus raised their target price on Honeywell from $157.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, April 23rd. Barclays raised their target price on Honeywell from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Monday, April 23rd. TheStreet raised Honeywell from a “c+” rating to an “a-” rating in a report on Friday, April 20th. Finally, Oppenheimer dropped their price objective on Honeywell from $180.00 to $172.00 and set an “outperform” rating on the stock in a report on Monday, April 30th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $167.73.

In other news, insider Timothy O. Mahoney sold 114,489 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $150.20, for a total value of $17,196,247.80. Following the transaction, the insider now owns 314,725 shares in the company, valued at $47,271,695. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jaime Chico /Fa Pardo sold 3,426 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $150.59, for a total value of $515,921.34. Following the completion of the transaction, the director now owns 43,773 shares in the company, valued at approximately $6,591,776.07. The disclosure for this sale can be found here. Company insiders own 1.33% of the company’s stock.

NYSE HON opened at $149.95 on Tuesday. The company has a market capitalization of $112.21 billion, a PE ratio of 21.09, a PEG ratio of 2.01 and a beta of 0.97. Honeywell has a 1-year low of $131.42 and a 1-year high of $165.13. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 0.72.

Honeywell (NYSE:HON) last released its earnings results on Friday, April 20th. The conglomerate reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $10.03 billion. Honeywell had a return on equity of 29.25% and a net margin of 4.26%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.71 earnings per share. research analysts predict that Honeywell will post 8.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 18th were given a $0.745 dividend. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $2.98 annualized dividend and a dividend yield of 1.99%. Honeywell’s dividend payout ratio (DPR) is presently 41.91%.

About Honeywell

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.

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Institutional Ownership by Quarter for Honeywell (NYSE:HON)

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