Reynders McVeigh Capital Management LLC purchased a new position in Honeywell Aerospace (NASDAQ:HONA – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,005 shares of the company’s stock, valued at approximately $885,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HONA. Ironvine Capital Partners LLC bought a new stake in Honeywell Aerospace in the 2nd quarter worth about $10,452,000. Sequoia Financial Advisors LLC bought a new position in Honeywell Aerospace during the 2nd quarter valued at about $24,175,000. SFE Investment Counsel purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at about $2,981,000. Werlinich Asset Management LLC bought a new stake in shares of Honeywell Aerospace in the second quarter worth approximately $1,478,000. Finally, Tidal Investments LLC purchased a new stake in shares of Honeywell Aerospace in the second quarter worth $6,331,000.
Analysts Set New Price Targets
A number of research analysts have recently commented on HONA shares. Argus initiated coverage on Honeywell Aerospace in a research report on Thursday, July 9th. They set a “buy” rating and a $275.00 target price for the company. Wells Fargo & Company set a $195.00 price target on shares of Honeywell Aerospace in a research report on Monday, August 10th. Wolfe Research initiated coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They set a “hold” rating on the stock. Morgan Stanley upgraded shares of Honeywell Aerospace from an “equal weight” rating to an “overweight” rating and set a $205.00 price objective for the company in a research report on Wednesday, August 19th. Finally, Wall Street Zen raised shares of Honeywell Aerospace to a “hold” rating in a research note on Sunday, July 12th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $221.54.
Honeywell Aerospace Stock Down 3.4%
HONA stock traded down $5.59 during midday trading on Tuesday, reaching $158.49. 5,280,770 shares of the company traded hands, compared to its average volume of 3,604,455. The firm has a market cap of $50.23 billion and a price-to-earnings ratio of 84.75. Honeywell Aerospace has a 52-week low of $149.19 and a 52-week high of $297.50. The stock’s 50 day simple moving average is $183.13.
Honeywell Aerospace (NASDAQ:HONA – Get Free Report) last released its earnings results on Monday, June 15th. The company reported $6,340,000.00 earnings per share for the quarter. The company had revenue of $4.35 billion for the quarter. As a group, equities research analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current year.
Key Stories Impacting Honeywell Aerospace
Here are the key news stories impacting Honeywell Aerospace this week:
- Positive Sentiment: Management’s investor-conference messaging remains supportive: demand was described as durable, backlog is growing and investments in the supply base are intended to improve production over time. These comments may help rebuild confidence after the company reduced its full-year organic-growth outlook in August. Morgan Stanley Laguna Conference Transcript
- Positive Sentiment: Some investors see substantial long-term upside from defense and aerospace spending, including the possibility of a significantly larger U.S. defense budget. Honeywell Aerospace’s exposure to aerospace systems could benefit if procurement increases. Defense Budget Investment Article
- Neutral Sentiment: Honeywell Aerospace has shown relative strength versus the Nasdaq over the past year, and analysts remain moderately constructive overall. However, the broader analyst consensus is still “Hold,” indicating that near-term upside is not viewed as certain. Honeywell Aerospace Relative Performance Article
- Negative Sentiment: Melius Research downgraded HONA from “strong buy” to “hold.” The change likely added selling pressure because it signals reduced conviction in the stock’s near-term risk-reward profile, particularly after the August guidance reduction and the shares’ sizable gap below their 50-day moving average.
- Negative Sentiment: The stock remains sensitive to execution risks, including supply-chain constraints and the need to convert its backlog into higher output and earnings. With a relatively high reported price-to-earnings ratio, investors may demand clearer evidence of accelerating growth before assigning a higher valuation.
About Honeywell Aerospace
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.
Featured Stories
- Five stocks we like better than Honeywell Aerospace
- Running on Empty: 3 Energy Plays for Europe’s Deep Freeze
- 3 Healthcare Stocks for 3 Stages of Life
- Curaleaf Tries To Roll Up Aurora In a Hostile Cannabis Bid
- MarketBeat’s Most Downgraded Stocks in Q3: 2 Look Cheap, 1 Looks Risky
Want to see what other hedge funds are holding HONA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Honeywell Aerospace (NASDAQ:HONA – Free Report).
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.
