Wolfe Research Lowers Honeywell International’s Rating Amid Institutional Shifts
Wolfe Research Adjusts Honeywell’s Future Outlook
Fintel reports that on October 28, 2024, Wolfe Research downgraded their outlook for Honeywell International (SNSE:HONCL) from Outperform to Peer Perform.
Institutional Investment Trends
As of now, 3,572 funds and institutions have reported positions in Honeywell International, reflecting an increase of 49 owners, or 1.39%, in the last quarter. The average portfolio weight dedicated to HONCL is currently at 0.44%, marking an increase of 0.87%. In total, shares owned by institutions grew by 4.95% over the past three months, reaching 578,701K shares.
Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 20,574K shares, which represents 3.16% ownership of Honeywell. Previously, they owned 20,507K shares, indicating an increase of 0.32%. The firm raised its portfolio allocation in HONCL by 1.50% over the last quarter.
Jpmorgan Chase owns 19,148K shares, accounting for 2.94% of the company. This is a significant jump from their earlier report of 16,520K shares, an increase of 13.73%. Their portfolio allocation in HONCL grew by 17.11% during the same period.
Vanguard 500 Index Fund Investor Shares (VFINX) holds 16,713K shares, or 2.57% of Honeywell. They previously reported owning 16,614K shares, reflecting an increase of 0.59%. However, their portfolio allocation in HONCL saw a slight decrease of 0.92% over the last quarter.
Wellington Management Group LLP holds 16,450K shares, representing 2.53% ownership of the company. In its previous filing, they reported 17,581K shares, which represents a decrease of 6.88%. Their portfolio allocation in HONCL fell by 1.91% last quarter.
Newport Trust maintains 15,678K shares, which is 2.41% ownership, showing no change from the last quarter.
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This article originally appeared on Fintel.
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