Cornerstone Investment Partners Lowers stake in Honeywell International (HON)

Honeywell International (HON) : Cornerstone Investment Partners reduced its stake in Honeywell International by 4.45% during the most recent quarter end. The investment management company now holds a total of 892,532 shares of Honeywell International which is valued at $106,255,935 after selling 41,532 shares in Honeywell International , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Honeywell International makes up approximately 3.58% of Cornerstone Investment Partners’s portfolio.

Other Hedge Funds, Including , Campbell Newman Asset Management Inc reduced its stake in HON by selling 16,513 shares or 9.72% in the most recent quarter. The Hedge Fund company now holds 153,438 shares of HON which is valued at $18,266,794. Honeywell International makes up approx 3.24% of Campbell Newman Asset Management Inc’s portfolio.Community Trust Investment Co reduced its stake in HON by selling 1,524 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 138,470 shares of HON which is valued at $16,484,854. Honeywell International makes up approx 2.05% of Community Trust Investment Co’s portfolio.Churchill Management Corp reduced its stake in HON by selling 4,885 shares or 7.28% in the most recent quarter. The Hedge Fund company now holds 62,204 shares of HON which is valued at $7,392,323. Honeywell International makes up approx 0.48% of Churchill Management Corp’s portfolio.Cohen Lawrence B boosted its stake in HON in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 4,025 shares of Honeywell International which is valued at $478,331. Honeywell International makes up approx 0.28% of Cohen Lawrence B’s portfolio.Baxter Bros Inc boosted its stake in HON in the latest quarter, The investment management firm added 2,044 additional shares and now holds a total of 23,242 shares of Honeywell International which is valued at $2,762,079. Honeywell International makes up approx 0.86% of Baxter Bros Inc’s portfolio.

Honeywell International opened for trading at $119.67 and hit $119.73 on the upside on Friday, eventually ending the session at $119.23, with a gain of 0.12% or 0.14 points. The heightened volatility saw the trading volume jump to 22,54,642 shares. Company has a market cap of $90,867 M.

On the company’s financial health, Honeywell International reported $1.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 22, 2016. Analyst had a consensus of $1.50. The company had revenue of $9522.00 million for the quarter, compared to analysts expectations of $9365.12 million. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS.

Many Wall Street Analysts have commented on Honeywell International. Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 122 from a previous price target of $121 .Company shares were Reiterated by Stifel on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 129 from a previous price target of $127 .Company shares were Reiterated by Barclays on Apr 18, 2016 to “Overweight”, Firm has raised the Price Target to $ 122 from a previous price target of $107 .

Honeywell International Inc. (Honeywell) is a diversified technology and manufacturing company. The Company is engaged in serving customers across the world with aerospace products and services turbochargers control sensing and security technologies for buildings homes and industry specialty chemicals electronic and advanced materials process technology for refining and petrochemicals and energy efficient products and solutions for homes business and transportation. The Company operates in segments: Aerospace Automation and Control Solutions (ACS) and Performance Materials and Technologies (PMT). Its Aerospace segment is a supplier of aircraft engines integrated avionics systems and service solutions and related products and services. ACS segment provides environmental and combustion controls sensing controls security and life safety products and services. Its PMT segment develops and manufactures advanced materials process technologies and automation solutions.

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