Sun Sep 15 16:16:52 UTC 2024: ## Meeder Asset Management Slashes Honeywell Holdings, Institutional Investors Diverge in Q2

**New York, NY (MarketBeat News)** – Meeder Asset Management Inc. significantly reduced its stake in Honeywell International Inc. (HON) during the second quarter, selling 88.7% of its holdings, according to the fund’s recent SEC filing. The move comes as several other institutional investors have taken contrasting positions on the industrial conglomerate.

Meeder Asset Management now owns just 381 shares of Honeywell, worth $81,000, after shedding 2,985 shares in the period. This stands in stark contrast to other institutional investors who have increased their holdings in Honeywell.

Price T Rowe Associates Inc. MD boosted its position by 32% in the fourth quarter, now owning 7,840,959 shares valued at $1,644,328,000. Natixis also expanded its stake by 184.8% in the first quarter, holding 838,716 shares worth $172,146,000. Capital Research Global Investors saw a 20.4% increase in its holding during the fourth quarter, reaching 3,189,925 shares valued at $668,959,000. First Financial Bankshares Inc. purchased a new position worth $72,580,000 in the fourth quarter, while Janus Henderson Group PLC added 8.1% to its holding in the first quarter, bringing its total to 2,698,596 shares valued at $553,880,000.

Overall, hedge funds and other institutional investors own 75.91% of Honeywell stock.

**Analyst Opinions Mixed**

Analysts remain divided on Honeywell’s future. Citigroup upgraded the stock to a “buy” rating and raised its price target to $244.00, while StockNews.com downgraded the stock to a “hold.” Royal Bank of Canada lowered its price target to $214.00 and maintained a “sector perform” rating. Meanwhile, Daiwa America upgraded Honeywell to a “moderate buy,” and UBS Group raised its rating from “sell” to “neutral,” also increasing its target price to $215.00.

Currently, six analysts rate the stock as a “hold” and three as a “buy,” resulting in a consensus “Hold” rating and a price target of $223.13, according to MarketBeat data.

**Strong Earnings, Steady Dividend**

Honeywell reported strong second-quarter earnings, exceeding analysts’ expectations with earnings per share of $2.49, up from $2.23 in the same quarter last year. The company also announced a quarterly dividend of $1.08 per share, representing a 2.12% dividend yield.

**Honeywell’s Future Uncertain**

Despite strong earnings and a consistent dividend, the recent divergent actions of institutional investors and mixed analyst opinions suggest uncertainty surrounding Honeywell’s future. Investors will be closely watching to see if the company can maintain its current momentum and navigate the ongoing economic challenges.

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