Honeywell Aerospace (NASDAQ:HONA) Shares Down 3.4% After Analyst Downgrade

Honeywell Aerospace (NASDAQ:HONAGet Free Report) shares fell 3.4% on Tuesday after Melius Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $158.10 and last traded at $158.50. 5,180,647 shares changed hands during trading, an increase of 44% from the average daily volume of 3,602,651 shares. The stock had previously closed at $164.08.

Several other research firms have also commented on HONA. UBS Group decreased their price objective on shares of Honeywell Aerospace from $231.00 to $213.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Vertical Research began coverage on Honeywell Aerospace in a report on Wednesday, July 1st. They issued a “hold” rating and a $243.00 target price for the company. Argus assumed coverage on Honeywell Aerospace in a report on Thursday, July 9th. They set a “buy” rating and a $275.00 price target on the stock. Royal Bank Of Canada cut their price objective on Honeywell Aerospace from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. initiated coverage on Honeywell Aerospace in a research report on Friday, July 10th. They set a “neutral” rating and a $255.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Honeywell Aerospace has an average rating of “Hold” and an average price target of $221.54.

View Our Latest Stock Analysis on HONA

Institutional Trading of Honeywell Aerospace

A number of large investors have recently bought and sold shares of HONA. Ameliora Wealth Management Ltd. bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth $25,000. Leo H. Evart Inc. purchased a new stake in Honeywell Aerospace in the 2nd quarter worth about $26,000. Outlook Capital Management LLC bought a new stake in Honeywell Aerospace in the 2nd quarter valued at about $26,000. Cherry Tree Wealth Management LLC bought a new stake in Honeywell Aerospace in the 2nd quarter valued at about $28,000. Finally, Meeder Asset Management Inc. bought a new stake in Honeywell Aerospace in the 2nd quarter valued at about $29,000.

Honeywell Aerospace Trading Down 3.4%

The firm has a market cap of $50.24 billion and a PE ratio of 84.76. The business has a 50-day moving average price of $183.13.

Honeywell Aerospace (NASDAQ:HONAGet Free Report) last posted its quarterly earnings results on Monday, June 15th. The company reported $6,340,000.00 earnings per share (EPS) for the quarter. The business had revenue of $4.35 billion during the quarter. On average, equities analysts predict that Honeywell Aerospace will post 7.75 EPS for the current year.

Honeywell Aerospace Company Profile

(Get Free Report)

Honeywell Aerospace is an aerospace technology company that develops and supplies systems, components and services for commercial aviation, business and general aviation, defense and space markets. Its portfolio includes aircraft engines, auxiliary power units, avionics, flight controls, navigation and communication systems, thermal management equipment, wheels and brakes, and other propulsion and safety technologies.

The company serves aircraft manufacturers, airlines, business aviation operators, military customers and aftermarket service providers around the world.

Further Reading

Receive News & Ratings for Honeywell Aerospace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Honeywell Aerospace and related companies with MarketBeat.com's FREE daily email newsletter.