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

Mechanics Financial Corp lowered its stake in Honeywell International Inc. (NASDAQ:HON) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,470 shares of the conglomerate’s stock after selling 652 shares during the period. Honeywell International accounts for 0.9% of Mechanics Financial Corp’s holdings, making the stock its 24th biggest position. Mechanics Financial Corp’s holdings in Honeywell International were worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Accent Capital Management LLC raised its stake in Honeywell International by 261.3% in the 3rd quarter. Accent Capital Management LLC now owns 8,888 shares of the conglomerate’s stock worth $1,837,000 after acquiring an additional 6,428 shares during the last quarter. Adero Partners LLC increased its holdings in shares of Honeywell International by 9.6% in the third quarter. Adero Partners LLC now owns 1,269 shares of the conglomerate’s stock valued at $262,000 after purchasing an additional 111 shares during the period. Schear Investment Advisers LLC increased its holdings in shares of Honeywell International by 8.6% in the third quarter. Schear Investment Advisers LLC now owns 6,712 shares of the conglomerate’s stock valued at $1,387,000 after purchasing an additional 529 shares during the period. River Street Advisors LLC raised its stake in shares of Honeywell International by 5.8% in the third quarter. River Street Advisors LLC now owns 5,404 shares of the conglomerate’s stock worth $1,117,000 after purchasing an additional 295 shares during the last quarter. Finally, RIA Advisory Group LLC acquired a new stake in shares of Honeywell International during the third quarter worth about $6,124,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.

Honeywell International Price Performance

NASDAQ:HON opened at $228.99 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. Honeywell International Inc. has a 52 week low of $189.66 and a 52 week high of $242.77. The stock’s 50-day moving average price is $211.39 and its 200-day moving average price is $207.85. The stock has a market capitalization of $148.90 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.77 and a beta of 1.03.

Honeywell International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $1.13 dividend. This is a positive change from Honeywell International’s previous quarterly dividend of $1.08. This represents a $4.52 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, November 15th. Honeywell International’s dividend payout ratio (DPR) is presently 52.19%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HON. Citigroup cut their price target on shares of Honeywell International from $248.00 to $244.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Wolfe Research lowered shares of Honeywell International from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their target price on shares of Honeywell International from $213.00 to $253.00 and gave the company a “sector perform” rating in a research report on Wednesday. Wells Fargo & Company increased their price target on Honeywell International from $215.00 to $254.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, StockNews.com upgraded Honeywell International from a “hold” rating to a “buy” rating in a research note on Sunday, November 3rd. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Honeywell International currently has a consensus rating of “Hold” and an average target price of $241.45.

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.