Honeywell CEO Cuts Personal Stake by 59% in $1.4 Million Sale

Vimal Kapur, chief executive of Honeywell International Inc., disposed of 6,459 company shares on October 26 at an average price of $220.99, generating $1,427,374.41, MarketBeat reported, citing a disclosure filed with the Securities and Exchange Commission.

The sale trimmed his direct holding by 59.28%, leaving 4,437 shares worth $980,532.63.

Honeywell stock slipped $0.47 in midday trading on October 27 to $218.81, against a 12-month range of $196.59 to $261.24. The industrial technology company carries a market value of $69.44 billion and a price-to-earnings ratio of 9.84.

Honeywell reported third-quarter results on October 22, with earnings of $2.27 a share, $0.10 above the consensus estimate, and revenue of $4.99 billion, slightly under the $5.01 billion analysts expected. Revenue rose 1.3% from the year-earlier quarter, when the company earned $2.82 a share. Net margin was 24.36% and return on equity 25.62%.

The company declared a quarterly dividend of $0.70 payable on December 4 to holders of record on November 13, an annualized $2.80 and a yield of 1.3%, with a payout ratio of 32.12%.

Among analysts, 13 rate the stock a buy, 12 a hold and one a sell, for a consensus rating of "hold" and an average price target of $249.96, according to MarketBeat.

This story was first reported by MarketBeat.