In a recent filing with the Securities & Exchange Commission, investment management firm Douglass Winthrop Advisors LLC revealed that it has reduced its holdings in Honeywell International Inc. (NASDAQ:HON) by 8.7% during the first quarter. The company now owns 8,925 shares of Honeywell’s stock, having sold 850 shares during this period. At the end of the reporting period, Douglass Winthrop Advisors LLC’s holdings in Honeywell International were valued at $1,706,000.
This move by Douglass Winthrop Advisors LLC indicates a cautious approach towards their investment in Honeywell International. As an investment management firm, prudent decision-making is essential to maximize returns for their clients.
Honeywell International Inc., a conglomerate operating in various industries including aerospace, building technologies, performance materials and technologies, has recently declared a quarterly dividend of $1.03 per share. Shareholders who were on record as of Friday, August 11th received this dividend on Friday, September 1st. With an ex-dividend date falling on Thursday, August 10th, this dividend represents an annualized payout ratio of 50.99% and a yield of 2.23%.
The decision to pay quarterly dividends reflects Honeywell International’s commitment towards providing returns to its investors while maintaining a sustainable capital allocation strategy. By distributing profits through dividends, the company shows its confidence in generating consistent earnings and rewarding shareholders accordingly.
It is important to note that dividends represent only one aspect of an investment strategy and should not be viewed as the sole driver of investment decisions. Investors should carefully consider factors such as the overall financial health and future prospects of the company before making investment choices.
For further insights into the performance and prospects of Honeywell International Inc., interested parties can refer to our latest research report on the company. The report provides detailed analysis and evaluation based on objective data and is designed to assist investors in making well-informed investment decisions.
In conclusion, Douglass Winthrop Advisors LLC has decreased its holdings in Honeywell International Inc., reflecting a cautious approach towards their investment. Honeywell, on the other hand, continues to prioritize shareholder value by declaring a quarterly dividend payment. Investors are encouraged to conduct thorough research and analysis before making any investment decisions, taking into account both dividend payouts and the overall financial outlook of Honeywell.
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Analysis of Institutional Holdings, Analyst Ratings, and Financial Performance of Honeywell International
On September 10, 2023, it was reported that several hedge funds had either increased or decreased their stakes in Honeywell International, a conglomerate known for its diversified operations. Stephens Inc. AR, for instance, grew its holdings in the company by a mere 0.7% during the first quarter. This resulted in them owning 47,474 shares of Honeywell’s stock valued at approximately $9,073,000 after purchasing an additional 331 shares within the last quarter.
Moore Capital Management LP also entered the scene as they bought a new position in Honeywell International during the first quarter. Their position was estimated to be worth around $5,425,000. Meanwhile, Evermay Wealth Management LLC saw their stake increase by roughly 2.3% during the same period. As a result of this growth, Evermay Wealth Management now owns 3,034 shares of Honeywell International’s stock which amounts to $580,000 after acquiring an additional 68 shares in the last quarter.
Similarly, Williams Jones Wealth Management LLC experienced growth in their stake by about 6.7% during the first quarter. They now hold approximately 189,910 shares of the conglomerate’s stock valued at $36,296,000 after acquiring an additional 11,995 shares in the last quarter. Finally, Macquarie Group Ltd., another institutional investor significantly increased their position by about 6.5% during the same period. Macquarie Group currently owns a staggering 2,642,493 shares worth $505,o34,o00o.
According to reports from Bloomberg.com and other financial sources available up until September10th when this article is written and published; Honeywell International stocks were given mixed reviews by various equity analysts. StockNews.com initiated coverage on Honeywell International and issued a rating of “hold” on its stocks on August21st while Morgan Stanley raised its target price from $219 to $221 for the shares on July 28th. Conversely, UBS Group lowered their price target for the company’s stock from $185 to $180 and gave it a “sell” rating on the same date.
Based on Bloomberg.com’s data, most analysts seem to have adopted a consensus rating of “hold” for Honeywell International with an average price target of $215.07.
As in NASDAQ:HON had traded up by $0.40 during midday trading on September 10th, reaching the value of approximately $184.52 per share; with a total of 1,769,739 shares being exchanged in that trade session alone. This trading volume is compared to its average daily volume which is considerably higher at2,055,912 shares.
Honeywell International Inc.’s trading range has been relatively broad over the past twelve months as it reached its lowest point at around$166.63 whereas it attained a peak of about$220.96 within the same period.
The company’s stock has been experiencing fluctuations with regards to its short-term trends as evident by its moving averages over50-days and two-hundred dayswhich standat$193.67 and $195.26respectively.
Fundamentally speaking, Honeywell International has demonstrated financial stability given its low debt-to-equity ratio standing at 0.98 coupled with healthy liquidity ratios.The company currently boasts a quick ratio of 1.07as well as a current ratio standingat1.41.These numbers indicate that Honeywell International possesses adequate resources to address immediate obligations swiftly while maintaining solvency in caseof emergencies.Its strong performance can partly be attributed toits presentmarket capitalization whichstands at an impressivefigureof$122.51 billion.
Specifically concerning Honeywell International’s quarterly earnings results issued last July27th,the company managed to exceed analysts’ expectations by reportingearnings per share (EPS) of $2.23 for the quarter as compared tothe consensus estimateof $2.20.This outperformance amountsto an increase of approximately$0.03per share.Net margin and return on equity stood at 15.08% and 34.46% respectively, showcasing Honeywell International’s profitability.
Revenue-wise,Honeywell International generatedapproximately$9.10billion in the said quarter which slightly missed analyst estimates that pegged them to earn $9.17 billion.Admittedly,the company exhibited a growth of almost 1.6% compared to the same period last year.
For the entirety of the current fiscal year, analysts forecast that Honeywell International Inc.will achieveearnings per share amountingtono less than $9.16.
To sum up, recent developments within Honeywell International have been marked by changes in its institutional holdings, varied ratings from different equity analysts, fluctuations in its stock prices,and solid financial performance in spite of missed revenue estimates.It is understandable why these factors have inspired interest within both investor circles and corporate communities.The conglomerate continues to captivate market attention as industry dynamics evolve dynamically in this fast-paced world of business finance.
