Honeywell International Inc. (NASDAQ:HON) Sees Large Growth in Short Interest

Honeywell International Inc. (NASDAQ:HON) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 10,630,000 shares, an increase of 14.5% from the October 31st total of 9,280,000 shares. Based on an average trading volume of 3,710,000 shares, the short-interest ratio is currently 2.9 days. Currently, 1.6% of the shares of the company are short sold.

Analyst Ratings Changes

HON has been the topic of a number of research reports. JPMorgan Chase & Co. decreased 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. UBS Group reiterated a “buy” rating and issued a $298.00 price objective (up previously from $215.00) on shares of Honeywell International in a research note on Wednesday, November 13th. Wolfe Research lowered shares of Honeywell International from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 28th. Citigroup cut their price target on Honeywell International from $248.00 to $244.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, Morgan Stanley started coverage on Honeywell International in a research note on Friday, September 6th. They set an “equal weight” rating and a $210.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $241.45.

Honeywell International Price Performance

NASDAQ:HON traded down $2.99 on Tuesday, hitting $226.96. The company had a trading volume of 4,021,819 shares, compared to its average volume of 3,126,488. The firm has a 50 day moving average of $216.57 and a two-hundred day moving average of $210.03. The stock has a market capitalization of $147.58 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 2.77 and a beta of 1.05. Honeywell International has a 52 week low of $189.66 and a 52 week high of $242.77. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 1.44.

Honeywell International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 15th will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Honeywell International’s previous quarterly dividend of $1.08. Honeywell International’s dividend payout ratio is presently 52.19%.

Institutional Trading of Honeywell International

A number of hedge funds have recently made changes to their positions in HON. Teachers Insurance & Annuity Association of America acquired a new position in Honeywell International during the 3rd quarter worth about $25,000. Reston Wealth Management LLC bought a new stake in Honeywell International in the third quarter valued at approximately $29,000. Financial Avengers Inc. increased its position in Honeywell International by 48.1% during the 3rd quarter. Financial Avengers Inc. now owns 154 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 50 shares during the period. Planning Capital Management Corp lifted its position in shares of Honeywell International by 96.4% in the 3rd quarter. Planning Capital Management Corp now owns 165 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 81 shares during the period. Finally, Financial Connections Group Inc. bought a new stake in shares of Honeywell International in the 2nd quarter valued at $38,000. 75.91% of the stock is owned by institutional investors and hedge funds.

About Honeywell International

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.