Edge Wealth Management LLC Sells 341 Shares of Honeywell International Inc. (NASDAQ:HON)

Edge Wealth Management LLC lowered its holdings in Honeywell International Inc. (NASDAQ:HON) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 55,191 shares of the conglomerate’s stock after selling 341 shares during the quarter. Honeywell International accounts for about 2.3% of Edge Wealth Management LLC’s holdings, making the stock its 18th biggest position. Edge Wealth Management LLC’s holdings in Honeywell International were worth $11,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. LGT Group Foundation acquired a new stake in Honeywell International in the 1st quarter valued at $26,000. Scarborough Advisors LLC acquired a new stake in Honeywell International in the 4th quarter valued at $27,000. Richardson Capital Management LLC acquired a new stake in Honeywell International in the 1st quarter valued at $35,000. Financial Connections Group Inc. acquired a new stake in Honeywell International in the 2nd quarter valued at $38,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Honeywell International in the 1st quarter valued at $39,000. Institutional investors and hedge funds own 75.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HON. Wells Fargo & Company cut their price objective on shares of Honeywell International from $215.00 to $207.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. JPMorgan Chase & Co. downgraded shares of Honeywell International from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $225.00 to $235.00 in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $214.00 price objective on shares of Honeywell International in a report on Thursday, September 26th. Morgan Stanley began 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, StockNews.com cut Honeywell International from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Honeywell International has an average rating of “Hold” and an average target price of $223.56.

Honeywell International Price Performance

Shares of NASDAQ HON traded down $0.33 during midday trading on Tuesday, hitting $217.27. 3,948,084 shares of the company’s stock were exchanged, compared to its average volume of 2,832,592. Honeywell International Inc. has a 12-month low of $174.88 and a 12-month high of $220.79. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 1.19. The company has a market cap of $141.48 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.45 and a beta of 1.03. The business’s fifty day moving average price is $203.87 and its two-hundred day moving average price is $204.32.

Honeywell International (NASDAQ:HON) last issued its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.49 EPS for the quarter, topping the consensus estimate of $2.42 by $0.07. Honeywell International had a return on equity of 36.87% and a net margin of 15.49%. The company had revenue of $9.58 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the previous year, the firm earned $2.23 earnings per share. Honeywell International’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts forecast that Honeywell International Inc. will post 10.1 EPS for the current fiscal year.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be paid a $1.13 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.52 annualized dividend and a yield of 2.08%. This is a positive change from Honeywell International’s previous quarterly dividend of $1.08. Honeywell International’s dividend payout ratio is currently 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.