Honeywell Aerospace (NASDAQ:HONA – Get Free Report) was upgraded by analysts at Susquehanna to a “strong-buy” rating in a note issued to investors on Thursday, Zacks reports.
Several other analysts have also commented on the company. JPMorgan Chase & Co. initiated coverage on Honeywell Aerospace in a report on Friday, July 10th. They set a “neutral” rating and a $255.00 price objective for the company. TD Cowen started coverage on Honeywell Aerospace in a research note on Monday, June 29th. They set a “hold” rating and a $250.00 target price on the stock. Royal Bank Of Canada reduced their target price 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. Wolfe Research began coverage on Honeywell Aerospace in a report on Monday, June 29th. They issued a “hold” rating for the company. Finally, BMO Capital Markets dropped their price target on Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Honeywell Aerospace currently has a consensus rating of “Hold” and an average price target of $219.29.
Read Our Latest Report on Honeywell Aerospace
Honeywell Aerospace Stock Performance
Honeywell Aerospace (NASDAQ:HONA – Get Free Report) last announced its earnings results on Monday, June 15th. The company reported $6,340,000.00 earnings per share for the quarter. The firm had revenue of $4.35 billion during the quarter. Analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of HONA. Ironvine Capital Partners LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $10,452,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Honeywell Aerospace in the second quarter worth about $24,175,000. Tidal Investments LLC acquired a new stake in Honeywell Aerospace during the second quarter worth about $6,331,000. SFE Investment Counsel acquired a new stake in Honeywell Aerospace during the second quarter worth about $2,981,000. Finally, Werlinich Asset Management LLC acquired a new stake in Honeywell Aerospace during the second quarter worth about $1,478,000.
More Honeywell Aerospace News
Here are the key news stories impacting Honeywell Aerospace this week:
- Positive Sentiment: Susquehanna initiated coverage of Honeywell Aerospace with a positive rating, providing new analyst support for the stock and signaling confidence in its aerospace-market outlook. Susquehanna Initiates Coverage of Honeywell Aerospace at Positive
- Positive Sentiment: A bullish Seeking Alpha analysis argued that Honeywell Aerospace’s current headwinds should be temporary, supporting the case that production growth, demand and longer-term fundamentals could improve. Honeywell Aerospace: Strong Buy As Headwinds Should Be Temporary
- Positive Sentiment: Saudi Arabia’s potential $5.75 billion in arms purchases could benefit aerospace and defense suppliers, including Honeywell Aerospace, although the company’s actual share of any contracts remains uncertain. Saudi Arabia’s $5.75 Billion Potential Arms Sales
- Neutral Sentiment: CEO Jim Currier called GE Aerospace’s planned $11.75 billion acquisition of Consolidated Precision Products positive for the broader industry. However, Honeywell does not directly compete with CPP, and persistent aerospace supply constraints remain a concern. Honeywell CEO Calls GE-CPP Deal Positive Amid Persistent Supply Constraints
- Negative Sentiment: A recent analyst downgrade pressured the shares and likely heightened concerns about valuation, near-term growth or aerospace supply-chain execution. Honeywell Aerospace Stock Price Down After Analyst Downgrade
- Negative Sentiment: Jim Cramer said he could not “counsel owning” Honeywell Aerospace, adding prominent negative commentary and reinforcing short-term investor caution. Jim Cramer Says He Can’t Counsel Owning Honeywell Aerospace
Honeywell Aerospace Company Profile
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.
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