Franklin Resources Inc. Cuts Position in Honeywell International Inc. (NASDAQ:HON)

Franklin Resources Inc. lowered its stake in Honeywell International Inc. (NASDAQ:HON) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,378,933 shares of the conglomerate’s stock after selling 627,941 shares during the period. Honeywell International makes up approximately 0.6% of Franklin Resources Inc.’s investment portfolio, making the stock its 29th biggest position. Franklin Resources Inc. owned 1.44% of Honeywell International worth $2,040,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teachers Insurance & Annuity Association of America bought a new stake in shares of Honeywell International during the 3rd quarter worth approximately $25,000. Reston Wealth Management LLC bought a new stake in Honeywell International during the 3rd quarter valued at about $29,000. Financial Avengers Inc. increased its position in shares of Honeywell International by 48.1% during the third quarter. Financial Avengers Inc. now owns 154 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 50 shares during the period. Planning Capital Management Corp raised its stake in shares of Honeywell International by 96.4% during the third quarter. Planning Capital Management Corp now owns 165 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 81 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in Honeywell International in the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on HON shares. Bank of America lifted their price objective on Honeywell International from $220.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. HSBC upgraded Honeywell International from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Wednesday. Citigroup upped their price objective on Honeywell International from $244.00 to $268.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com lowered Honeywell International from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Robert W. Baird cut shares of Honeywell International from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $223.00 to $217.00 in a report on Friday, October 25th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $248.77.

Honeywell International Price Performance

Shares of HON opened at $227.69 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 1.12. The company’s fifty day moving average price is $220.58 and its 200-day moving average price is $211.47. Honeywell International Inc. has a 1-year low of $189.66 and a 1-year high of $242.77. The firm has a market capitalization of $148.06 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.05.

Honeywell International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were issued a $1.13 dividend. The ex-dividend date was Friday, November 15th. This is a positive change from Honeywell International’s previous quarterly dividend of $1.08. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.99%. Honeywell International’s dividend payout ratio is currently 52.19%.

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.