Brookside Capital Management LLC Has Cut Honeywell Intl INC (HON) Stake as Market Valuation Declined

April 16, 2018 - By Clifton Ray

Honeywell International Inc. (NYSE:HON) LogoInvestors sentiment decreased to 1.11 in 2017 Q4. Its down 0.03, from 1.14 in 2017Q3. It dropped, as 42 investors sold HON shares while 490 reduced holdings. 154 funds opened positions while 439 raised stakes. 531.30 million shares or 5.59% less from 562.75 million shares in 2017Q3 were reported. Pinnacle Assocs holds 137,978 shares. Btr Management Incorporated reported 5,300 shares. Invsts Asset Mngmt Of Georgia Ga Adv has 2,037 shares. Wells Fargo And Com Mn owns 4.88M shares for 0.22% of their portfolio. Country Club Tru Na holds 0.04% or 1,837 shares. Beck Cap Mgmt Ltd Liability accumulated 1,466 shares. Moreover, First Midwest Commercial Bank Division has 0.78% invested in Honeywell International Inc. (NYSE:HON) for 40,595 shares. Tower Rech Capital Limited Company (Trc) owns 16,239 shares for 0.32% of their portfolio. Citadel Advsr Limited Co reported 173,723 shares. Mitsubishi Ufj Securities Company holds 60 shares or 0.04% of its portfolio. Nj State Employees Deferred Compensation Plan stated it has 0.53% of its portfolio in Honeywell International Inc. (NYSE:HON). Tocqueville Asset LP accumulated 112,064 shares. Intersect Limited Liability Com accumulated 2,351 shares. Ahl Prtn Llp holds 102,003 shares or 0.24% of its portfolio. Winslow Capital Ltd holds 1.88% of its portfolio in Honeywell International Inc. (NYSE:HON) for 2.22M shares.

Since February 14, 2018, it had 0 insider purchases, and 2 insider sales for $874,731 activity. $426,291 worth of Honeywell International Inc. (NYSE:HON) shares were sold by Deily Linnet F.

Bain Capital decreased its stake in Honeywell Intl Inc (HON) by 35.84% based on its latest 2017Q4 regulatory filing with the SEC. Brookside Capital Management Llc sold 132,432 shares as the company’s stock declined 5.96% with the market. The hedge fund run by Bain Capital held 237,085 shares of the o.e.m. company at the end of 2017Q4, valued at $36.36 million, down from 369,517 at the end of the previous reported quarter. Brookside Capital Management Llc who had been investing in Honeywell Intl Inc for a number of months, seems to be less bullish one the $110.81B market cap company. The stock increased 1.33% or $1.95 during the last trading session, reaching $148.07. About 803,452 shares traded. Honeywell International Inc. (NYSE:HON) has risen 15.94% since April 16, 2017 and is uptrending. It has outperformed by 4.39% the S&P500.

Brookside Capital Management Llc, which manages about $1.38 billion US Long portfolio, upped its stake in Vertex Pharmaceuticals Inc (NASDAQ:VRTX) by 69,327 shares to 70,000 shares, valued at $10.49M in 2017Q4, according to the filing. It also increased its holding in Nektar Therapeutics (NASDAQ:NKTR) by 79,856 shares in the quarter, for a total of 82,856 shares, and has risen its stake in Mulesoft Inc.

Analysts await Honeywell International Inc. (NYSE:HON) to report earnings on April, 20. They expect $1.88 EPS, up 13.25 % or $0.22 from last year’s $1.66 per share. HON’s profit will be $1.41B for 19.69 P/E if the $1.88 EPS becomes a reality. After $1.85 actual EPS reported by Honeywell International Inc. for the previous quarter, Wall Street now forecasts 1.62 % EPS growth.

Honeywell International Inc. (NYSE:HON) Ratings Coverage

Among 10 analysts covering Honeywell International (NYSE:HON), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. Honeywell International had 22 analyst reports since October 19, 2017 according to SRatingsIntel. On Friday, October 20 the stock rating was maintained by Vertical Research with “Buy”. The stock of Honeywell International Inc. (NYSE:HON) earned “Hold” rating by RBC Capital Markets on Wednesday, January 3. Stifel Nicolaus maintained the shares of HON in report on Sunday, December 10 with “Buy” rating. As per Thursday, March 1, the company rating was maintained by Stifel Nicolaus. RBC Capital Markets maintained the shares of HON in report on Sunday, October 22 with “Buy” rating. The rating was maintained by Robert W. Baird with “Buy” on Tuesday, February 20. The firm earned “Buy” rating on Monday, January 22 by Cowen & Co. The rating was maintained by Credit Suisse on Friday, January 19 with “Hold”. Credit Suisse maintained Honeywell International Inc. (NYSE:HON) rating on Monday, October 23. Credit Suisse has “Hold” rating and $150.0 target. On Friday, January 26 the stock rating was maintained by Robert W. Baird with “Buy”.

Honeywell International Inc. (NYSE:HON) Institutional Positions Chart

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