Pinnacle Financial Partners Inc. Grows Position in Honeywell (HON)

Pinnacle Financial Partners Inc. increased its position in shares of Honeywell (NYSE:HON) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,986 shares of the conglomerate’s stock after buying an additional 7,762 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Honeywell were worth $7,666,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV increased its position in shares of Honeywell by 0.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,735 shares of the conglomerate’s stock worth $499,000 after purchasing an additional 14 shares during the last quarter. GM Advisory Group Inc. increased its position in shares of Honeywell by 1.4% in the 2nd quarter. GM Advisory Group Inc. now owns 2,187 shares of the conglomerate’s stock worth $292,000 after purchasing an additional 31 shares during the last quarter. Meridian Investment Counsel Inc. increased its position in shares of Honeywell by 0.4% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 7,972 shares of the conglomerate’s stock worth $1,063,000 after purchasing an additional 31 shares during the last quarter. Risk Paradigm Group LLC increased its position in shares of Honeywell by 2.7% in the 2nd quarter. Risk Paradigm Group LLC now owns 1,653 shares of the conglomerate’s stock worth $220,000 after purchasing an additional 44 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC increased its position in shares of Honeywell by 0.5% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 10,046 shares of the conglomerate’s stock worth $1,393,000 after purchasing an additional 48 shares during the last quarter. 75.30% of the stock is currently owned by hedge funds and other institutional investors.

Honeywell stock traded up $0.63 during midday trading on Monday, reaching $146.75. 2,565,673 shares of the stock traded hands, compared to its average volume of 3,215,844. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $109,882.52, a price-to-earnings ratio of 20.64, a PEG ratio of 2.00 and a beta of 0.97. Honeywell has a fifty-two week low of $122.40 and a fifty-two week high of $165.13.

Honeywell (NYSE:HON) last posted its earnings results on Friday, January 26th. The conglomerate reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.01. The firm had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.80 billion. Honeywell had a net margin of 4.08% and a return on equity of 27.27%. Honeywell’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.74 EPS. research analysts expect that Honeywell will post 7.97 earnings per share for the current year.

In other news, Director Linnet F. Deily sold 2,886 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $147.71, for a total value of $426,291.06. Following the completion of the sale, the director now directly owns 9,105 shares of the company’s stock, valued at approximately $1,344,899.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jaime Chico /Fa Pardo sold 2,868 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $156.36, for a total transaction of $448,440.48. Following the completion of the sale, the director now directly owns 41,092 shares of the company’s stock, valued at $6,425,145.12. The disclosure for this sale can be found here. Insiders own 1.33% of the company’s stock.

HON has been the subject of several research analyst reports. Royal Bank of Canada downgraded shares of Honeywell from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $163.00 to $158.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Honeywell from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Monday, March 19th. Barclays began coverage on shares of Honeywell in a report on Thursday, February 15th. They issued an “overweight” rating and a $170.00 price target for the company. Argus lifted their price target on shares of Honeywell from $160.00 to $170.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $165.00 price target on shares of Honeywell in a report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $166.07.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Week Herald and is owned by of Week Herald. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://weekherald.com/2018/04/16/honeywell-international-inc-hon-stake-boosted-by-pinnacle-financial-partners-inc.html.

About Honeywell

Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. It operates through four segments: Aerospace; Home and Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. The Aerospace segment supplies products, software, and services for aircraft and vehicles that it sells to original equipment manufacturers and other customers in various markets, including air transport, regional, business and general aviation aircraft, airlines, aircraft operators, defense and space contractors, and automotive and truck manufacturers.

Institutional Ownership by Quarter for Honeywell (NYSE:HON)

Receive News & Ratings for Honeywell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Honeywell and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply