TIAA CREF Investment Management LLC Decreases Stake in Honeywell (HON)

TIAA CREF Investment Management LLC trimmed its stake in shares of Honeywell (NYSE:HON) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,706,674 shares of the conglomerate’s stock after selling 253,208 shares during the period. Honeywell makes up 0.7% of TIAA CREF Investment Management LLC’s investment portfolio, making the stock its 20th largest holding. TIAA CREF Investment Management LLC owned 0.89% of Honeywell worth $1,028,536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HON. BlackRock Inc. increased its holdings in Honeywell by 5.8% during the fourth quarter. BlackRock Inc. now owns 47,575,018 shares of the conglomerate’s stock valued at $7,296,103,000 after buying an additional 2,627,000 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Honeywell by 1.6% during the third quarter. Ameriprise Financial Inc. now owns 13,530,401 shares of the conglomerate’s stock valued at $1,918,100,000 after buying an additional 207,142 shares during the last quarter. Geode Capital Management LLC increased its holdings in Honeywell by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 8,525,277 shares of the conglomerate’s stock valued at $1,304,881,000 after buying an additional 369,046 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Honeywell by 3.2% during the fourth quarter. Clearbridge Investments LLC now owns 6,052,733 shares of the conglomerate’s stock valued at $928,247,000 after buying an additional 187,212 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Honeywell by 4.1% during the fourth quarter. Wells Fargo & Company MN now owns 4,880,271 shares of the conglomerate’s stock valued at $748,439,000 after buying an additional 193,523 shares during the last quarter. 75.30% of the stock is owned by hedge funds and other institutional investors.

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Shares of NYSE:HON opened at $149.37 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.13. Honeywell has a fifty-two week low of $122.64 and a fifty-two week high of $165.13. The firm has a market cap of $110,356.29, a P/E ratio of 21.01, a P/E/G ratio of 2.01 and a beta of 0.97.

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

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

A number of analysts have commented on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $187.00 target price on shares of Honeywell in a report on Friday, January 26th. Bank of America upped their target price on shares of Honeywell from $117.12 to $168.00 and gave the company a “buy” rating in a report on Friday, January 26th. TheStreet lowered shares of Honeywell from an “a+” rating to a “c+” rating in a research report on Friday, January 26th. ValuEngine upgraded shares of Honeywell from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Cowen reiterated a “buy” rating and issued a $168.00 price target on shares of Honeywell in a research report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $166.07.

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Honeywell Company Profile

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.

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Institutional Ownership by Quarter for Honeywell (NYSE:HON)

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