Narwhal Capital Management Reduces Holdings in Honeywell International Inc. (NASDAQ:HON)

Narwhal Capital Management reduced its position in Honeywell International Inc. (NASDAQ:HON) by 25.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,351 shares of the conglomerate’s stock after selling 1,460 shares during the period. Narwhal Capital Management’s holdings in Honeywell International were worth $929,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Torray Investment Partners LLC boosted its holdings in Honeywell International by 0.3% in the fourth quarter. Torray Investment Partners LLC now owns 58,708 shares of the conglomerate’s stock worth $12,312,000 after purchasing an additional 190 shares during the period. Connectus Wealth LLC lifted its stake in Honeywell International by 2.2% in the fourth quarter. Connectus Wealth LLC now owns 224,661 shares of the conglomerate’s stock valued at $47,128,000 after buying an additional 4,789 shares during the last quarter. Main Street Financial Solutions LLC grew its position in shares of Honeywell International by 2.6% during the fourth quarter. Main Street Financial Solutions LLC now owns 4,561 shares of the conglomerate’s stock worth $956,000 after acquiring an additional 114 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Honeywell International by 17.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 12,141 shares of the conglomerate’s stock worth $2,546,000 after acquiring an additional 1,823 shares during the period. Finally, Sanibel Captiva Trust Company Inc. bought a new stake in Honeywell International in the 4th quarter valued at about $27,230,000. Institutional investors and hedge funds own 75.91% of the company’s stock.

Honeywell International Stock Performance

Shares of HON opened at $198.13 on Friday. Honeywell International Inc. has a 12-month low of $174.88 and a 12-month high of $220.79. The stock has a market capitalization of $129.02 billion, a P/E ratio of 22.96, a P/E/G ratio of 2.37 and a beta of 1.04. The firm’s 50 day moving average is $206.41 and its 200-day moving average is $203.13. 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 (NASDAQ:HON) last posted its quarterly 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. The company had revenue of $9.58 billion for the quarter, compared to analysts’ expectations of $9.41 billion. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.23 earnings per share. Equities research analysts anticipate that Honeywell International Inc. will post 10.12 EPS for the current fiscal year.

Honeywell International Announces Dividend

The company 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. This represents a $4.32 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, August 16th. Honeywell International’s payout ratio is 50.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HON shares. UBS Group upgraded shares of Honeywell International from a “sell” rating to a “neutral” rating and raised their price target for the company from $175.00 to $215.00 in a research note on Monday, June 10th. Wells Fargo & Company lowered their target price 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. Citigroup boosted their price target on Honeywell International from $243.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Daiwa America raised Honeywell International to a “moderate buy” rating in a report on Wednesday, June 5th. Finally, Royal Bank of Canada reduced 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $223.13.

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.