Somerville Kurt F bought a new stake in Honeywell Aerospace (NASDAQ:HONA – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,288 shares of the company’s stock, valued at approximately $736,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Grandfield & Dodd LLC bought a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $759,000. SCS Capital Management LLC bought a new stake in Honeywell Aerospace during the second quarter worth about $1,821,000. SFE Investment Counsel bought a new stake in Honeywell Aerospace during the second quarter worth about $2,981,000. MidFirst Bank bought a new stake in Honeywell Aerospace during the second quarter worth about $5,608,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Honeywell Aerospace during the second quarter valued at approximately $8,809,000.
Analyst Ratings Changes
A number of research firms have weighed in on HONA. JPMorgan Chase & Co. started coverage on Honeywell Aerospace in a research note on Friday, July 10th. They issued a “neutral” rating and a $255.00 price target for the company. Evercore set a $210.00 price objective on Honeywell Aerospace in a report on Thursday, August 6th. Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a research note on Monday, August 10th. Vertical Research assumed coverage on shares of Honeywell Aerospace in a report on Wednesday, July 1st. They set a “hold” rating and a $243.00 target price on the stock. Finally, BMO Capital Markets lowered their target price on shares of Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Honeywell Aerospace currently has an average rating of “Hold” and an average target price of $224.17.
Honeywell Aerospace News Summary
Here are the key news stories impacting Honeywell Aerospace this week:
- Positive Sentiment: Morgan Stanley upgraded Honeywell Aerospace to Overweight from Equal-weight and maintained a $205 price target. Analyst Kristine Liwag argued that the recent selloff created an attractive entry point, implying substantial upside from current levels. Honeywell Aerospace Stock Upgraded to Overweight Following Sell-Off
- Positive Sentiment: Multiple reports highlighted Morgan Stanley’s view that Honeywell Aerospace had become “too cheap to ignore.” The upgrade helped drive a sharp rebound in the stock during the prior session and may support investor confidence in the company’s long-term earnings outlook. Honeywell Aerospace is now too cheap to ignore, says Morgan Stanley
- Neutral Sentiment: Analyst coverage remains mixed, suggesting that Morgan Stanley’s bullish stance is not universally shared. Investors are likely balancing the $205 price target against valuation concerns, recent volatility, and uncertainty in the broader market. Honeywell Aerospace Sees Mixed Analyst Views
- Neutral Sentiment: Broader market conditions were also unfavorable, with rising yields and geopolitical concerns weighing on equities. Those macroeconomic pressures could limit the immediate benefit of the Morgan Stanley upgrade. Top Wall Street Analyst Research Calls
- Negative Sentiment: Law firm Bragar Eagel & Squire announced an investigation into Honeywell Aerospace on behalf of shareholders who suffered losses. Although the announcement does not establish wrongdoing, litigation-related headlines can increase uncertainty and weigh on the stock. Honeywell Aerospace Stockholder Alert
Honeywell Aerospace Stock Down 2.6%
HONA opened at $165.89 on Friday. Honeywell Aerospace has a 12-month low of $150.03 and a 12-month high of $297.50. The company has a market capitalization of $52.58 billion and a PE ratio of 88.71.
Honeywell Aerospace (NASDAQ:HONA – Get Free Report) last posted its earnings results on Monday, June 15th. The company reported $6,340,000.00 earnings per share for the quarter. The business had revenue of $4.35 billion for the quarter. As a group, equities research analysts anticipate that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.
About Honeywell Aerospace
Honeywell Aerospace Inc manufactures and supplies aircraft components, avionics, engines, and systems for airframe manufacturing, commercial airline, military and defense, business aviation, and space markets, as well as other markets in the aerospace industry. The company offers actuation products, air and thermal management products, auxiliary power units, cabin management and entertainment products, cockpit systems and displays, electric power products, engines, health and usage monitoring products, lighting products, microelectronics, navigation products and radios, recorders and transmitters, satellite communications, sensors, space products, terrain and traffic awareness, vehicle turbochargers, weather radars, and wheels and braking systems.
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