Franklin Resources Inc. Decreases Stock Holdings in Honeywell International Inc. (NASDAQ:HON)

Franklin Resources Inc. cut its position in Honeywell International Inc. (NASDAQ:HON - Free Report) by 6.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,378,933 shares of the conglomerate's stock after selling 627,941 shares during the quarter. Honeywell International makes up approximately 0.6% of Franklin Resources Inc.'s investment portfolio, making the stock its 29th largest holding. Franklin Resources Inc. owned about 1.44% of Honeywell International worth $2,040,856,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HON. Tidal Investments LLC grew its stake in shares of Honeywell International by 46.3% during the third quarter. Tidal Investments LLC now owns 48,572 shares of the conglomerate's stock worth $10,040,000 after acquiring an additional 15,370 shares during the last quarter. Blankinship & Foster LLC purchased a new stake in Honeywell International during the 3rd quarter worth approximately $3,464,000. Destination Wealth Management increased its stake in Honeywell International by 21.8% during the 3rd quarter. Destination Wealth Management now owns 1,234 shares of the conglomerate's stock valued at $255,000 after purchasing an additional 221 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Honeywell International by 17.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 119,378 shares of the conglomerate's stock worth $24,677,000 after buying an additional 17,785 shares during the period. Finally, Arvest Bank Trust Division purchased a new stake in shares of Honeywell International during the third quarter valued at $12,815,000. 75.91% of the stock is owned by hedge funds and other institutional investors.

Honeywell International Price Performance

Shares of NASDAQ HON traded down $0.07 during trading on Friday, hitting $227.62. The company had a trading volume of 2,431,621 shares, compared to its average volume of 3,140,378. 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 fifty-two week low of $189.66 and a fifty-two week high of $242.77. The firm has a market capitalization of $148.01 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.05. The stock has a fifty day simple moving average of $220.58 and a two-hundred day simple moving average of $211.47.

Honeywell International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 15th were paid a $1.13 dividend. The ex-dividend date of this dividend 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 payout ratio is currently 52.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HON. JPMorgan Chase & Co. cut their price objective on Honeywell International from $235.00 to $233.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Citigroup lifted their price objective on shares of Honeywell International from $244.00 to $268.00 and gave the company a "buy" rating in a research note on Monday. StockNews.com lowered shares of Honeywell International from a "buy" rating to a "hold" rating in a research note on Monday. Wolfe Research lowered shares of Honeywell International from an "outperform" rating to a "peer perform" rating in a report on Monday, October 28th. Finally, Robert W. Baird downgraded Honeywell International from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $223.00 to $217.00 in a research report on Friday, October 25th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Honeywell International has a consensus rating of "Hold" and an average price target of $248.77.

Honeywell International Company 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.