As Bank Of America Corp (BAC) Share Price Declined, Honeywell International INC Has Boosted Stake

February 25, 2018 - By Migdalia James

Investors sentiment decreased to 1.04 in 2017 Q3. Its down 0.08, from 1.12 in 2017Q2. It dropped, as 68 investors sold BAC shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. 6.91 billion shares or 9.01% more from 6.34 billion shares in 2017Q2 were reported. Pictet Cie (Europe) Sa stated it has 48,666 shares or 0.18% of all its holdings. 1.71M are held by Dupont Capital Mgmt. Sawgrass Asset Mngmt has invested 0.04% of its portfolio in Bank of America Corporation (NYSE:BAC). Peloton Wealth Strategists invested in 0.96% or 49,100 shares. The Maryland-based Montgomery Invest Mngmt Inc has invested 2.42% in Bank of America Corporation (NYSE:BAC). 12,764 are held by Dubuque Bancorporation & Tru. Lbmc Investment Advisors Ltd holds 0.08% of its portfolio in Bank of America Corporation (NYSE:BAC) for 18,881 shares. 54,537 are held by Neville Rodie & Shaw Inc. Teewinot Capital Advisers Limited Liability Company has invested 6.73% in Bank of America Corporation (NYSE:BAC). Fmr Lc invested 1% of its portfolio in Bank of America Corporation (NYSE:BAC). Northstar Gru accumulated 0.27% or 13,007 shares. Braun Stacey Assocs holds 1.43% in Bank of America Corporation (NYSE:BAC) or 826,684 shares. Bank Pictet & Cie (Asia) Limited owns 10,000 shares. Bailard has 23,246 shares for 0.04% of their portfolio. Quantbot Tech Limited Partnership reported 1.41% of its portfolio in Bank of America Corporation (NYSE:BAC).

Honeywell International Inc increased its stake in Bank Of America Corp (BAC) by 15.03% based on its latest 2017Q3 regulatory filing with the SEC. Honeywell International Inc bought 301,300 shares as the company’s stock declined 6.00% while stock markets rallied. The institutional investor held 2.31 million shares of the major banks company at the end of 2017Q3, valued at $58.44M, up from 2.00M at the end of the previous reported quarter. Honeywell International Inc who had been investing in Bank Of America Corp for a number of months, seems to be bullish on the $329.50 billion market cap company. The stock increased 1.07% or $0.34 during the last trading session, reaching $32.03. About 53.63M shares traded. Bank of America Corporation (NYSE:BAC) has risen 58.64% since February 25, 2017 and is uptrending. It has outperformed by 41.94% the S&P500.

Honeywell International Inc, which manages about $2.85B US Long portfolio, decreased its stake in Mastercard Inc (NYSE:MA) by 69,800 shares to 211,800 shares, valued at $29.91 million in 2017Q3, according to the filing. It also reduced its holding in Cvs Health Corp (NYSE:CVS) by 199,600 shares in the quarter, leaving it with 398,100 shares, and cut its stake in Facebook Inc (NASDAQ:FB).

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Bloomberg.com which released: “Bank of America Is Said to Explore Canada’s Uninsured MBS Market” on February 07, 2018, also Investorplace.com with their article: “No Reason to Sell Bank of America Corp Stock Just Yet” published on February 14, 2018, Bloomberg.com published: “Bank of America Signs Up for Another 10 Years at London HQ” on February 21, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Reuters.com and their article: “Bank of America takes aim at gun-making clients” published on February 25, 2018 as well as Marketwatch.com‘s news article titled: “Amazon and Bank of America have partnered for lending: report” with publication date: February 14, 2018.

Bank of America Corporation (NYSE:BAC) Ratings Coverage

Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 67% are positive. Bank of America has $37 highest and $15 lowest target. $26.24’s average target is -18.08% below currents $32.03 stock price. Bank of America had 106 analyst reports since July 21, 2015 according to SRatingsIntel. Nomura maintained Bank of America Corporation (NYSE:BAC) on Tuesday, July 18 with “Buy” rating. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by RBC Capital Markets on Wednesday, June 14. The company was maintained on Tuesday, July 21 by Jefferies. On Thursday, September 14 the stock rating was maintained by Jefferies with “Buy”. The firm has “Buy” rating given on Tuesday, September 1 by KBW. Citigroup downgraded the shares of BAC in report on Tuesday, April 4 to “Neutral” rating. The firm has “Buy” rating by Sandler O’Neill given on Tuesday, January 9. The stock of Bank of America Corporation (NYSE:BAC) earned “Neutral” rating by UBS on Wednesday, January 11. The stock has “Buy” rating by Bernstein on Tuesday, September 1. As per Tuesday, December 5, the company rating was maintained by Raymond James.

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