Moser Wealth Advisors Reduces Stake in Honeywell by 17.9%

Moser Wealth Advisors LLC has reduced its stake in Honeywell International Inc. (NASDAQ: HON) by 17.9% during the second quarter of 2023. According to data from HoldingsChannel, the firm sold 625 shares, leaving it with a total of 2,866 shares valued at approximately $667,000 as of the latest reporting period.

This adjustment in holdings comes amid broader changes among institutional investors regarding Honeywell’s stock. For instance, Chung Wu Investment Group LLC acquired a new stake valued at about $26,000 during the same quarter. Additionally, Pandora Wealth Inc. and RMG Wealth Management LLC both purchased new stakes worth around $33,000 each. Activest Wealth Management saw significant growth, increasing its position by 425.9% to own 142 shares valued at $33,000 after acquiring an additional 115 shares. Notably, institutional investors now hold 75.91% of Honeywell’s stock.

Insider Transactions and Market Performance

In related news, Honeywell’s Chief Executive Officer, Lucian Boldea, sold 42,149 shares of the company on August 27, 2023, at an average price of $221.58, totaling approximately $9.34 million. Following this transaction, Boldea retains 10,334 shares worth about $2.29 million, which indicates an 80.31% decrease in his ownership of the stock. This transaction was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).

As of the latest trading session, Honeywell International’s stock opened at $220.67. The company boasts a market capitalization of $140.10 billion, a price-to-earnings (PE) ratio of 25.10, and a beta of 1.06. Over the past twelve months, Honeywell’s stock has experienced a low of $179.36 and a high of $242.77.

Financial Outlook and Dividend Announcement

Honeywell International recently reported its earnings results for Q4 2023, revealing an earnings per share (EPS) of $2.25. The company achieved a net margin of 14.30% and a return on equity of 37.37% with total revenues reaching $8.95 billion. For the upcoming quarter, Honeywell has set an EPS guidance of $2.530 to $2.630 and an annual forecast of $9.100 to $9.200 EPS.

In addition, Honeywell has announced an increase in its quarterly dividend, which will be distributed on December 5, 2023. Shareholders of record as of November 14, 2023 will receive $1.19 per share, a rise from the previous quarterly dividend of $1.13. This adjustment represents an annualized dividend of $4.76, yielding 2.2%. The company’s current dividend payout ratio stands at 54.15%.

Honeywell International Inc. operates in multiple sectors, including aerospace technologies, building automation, energy solutions, and industrial automation, serving markets both in the United States and worldwide.