Ipswich Investment Management Co. Inc. Lowers Holdings in Honeywell International Inc. (NASDAQ:HON)

Ipswich Investment Management Co. Inc. reduced its stake in shares of Honeywell International Inc. (NASDAQ:HON) by 4.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,532 shares of the conglomerate’s stock after selling 725 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Honeywell International were worth $3,289,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in HON. LaFleur & Godfrey LLC boosted its position in shares of Honeywell International by 40.7% during the 4th quarter. LaFleur & Godfrey LLC now owns 42,277 shares of the conglomerate’s stock worth $9,550,000 after purchasing an additional 12,227 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Honeywell International by 9.1% in the 4th quarter. Brighton Jones LLC now owns 19,047 shares of the conglomerate’s stock worth $4,302,000 after buying an additional 1,582 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Honeywell International in the 4th quarter worth about $21,525,000. Allspring Global Investments Holdings LLC boosted its position in shares of Honeywell International by 2.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 274,975 shares of the conglomerate’s stock worth $62,017,000 after buying an additional 6,338 shares in the last quarter. Finally, Naples Global Advisors LLC boosted its position in shares of Honeywell International by 3.0% in the 4th quarter. Naples Global Advisors LLC now owns 6,204 shares of the conglomerate’s stock worth $1,401,000 after buying an additional 183 shares in the last quarter. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HON. Royal Bank of Canada boosted their target price on shares of Honeywell International from $211.00 to $226.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 30th. Wall Street Zen raised shares of Honeywell International from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Wells Fargo & Company boosted their target price on shares of Honeywell International from $205.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Citigroup boosted their target price on shares of Honeywell International from $242.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Finally, Bank of America raised shares of Honeywell International from a “neutral” rating to a “buy” rating and set a $250.00 target price for the company in a research note on Wednesday, May 7th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Honeywell International currently has a consensus rating of “Moderate Buy” and an average target price of $248.14.

Honeywell International Stock Down 0.8%

HON opened at $224.29 on Friday. The firm has a 50 day moving average price of $213.35 and a 200 day moving average price of $216.13. The company has a market cap of $144.15 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08. Honeywell International Inc. has a 1 year low of $179.36 and a 1 year high of $242.77. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.01 and a current ratio of 1.31.

Honeywell International (NASDAQ:HON) last posted its earnings results on Tuesday, April 29th. The conglomerate reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.30. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.59 billion. Honeywell International had a net margin of 14.82% and a return on equity of 35.78%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 EPS. Sell-side analysts expect that Honeywell International Inc. will post 10.34 earnings per share for the current year.

Honeywell International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 16th were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Friday, May 16th. Honeywell International’s dividend payout ratio (DPR) is presently 51.95%.

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.