Honeywell Aerospace (NASDAQ:HONA) Cut to "Hold" at Melius Research

Key Points

• Melius Research downgraded Honeywell Aerospace from “strong buy” to “hold,” while analysts overall maintain an average “hold” rating and a $221.54 target price.
• HONA opened at $164.08, below its 50-day moving average of $183.13, with a market capitalization of $52.01 billion and a 52-week range of $149.19 to $297.50.
• The company reported $4.35 billion in quarterly revenue, and analysts expect full-year earnings of $7.75 per share. Several major institutional investors, including BlackRock and Wellington Management, recently acquired stakes.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) was downgraded by research analysts at Melius Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

Other research analysts have also issued reports about the stock. Morgan Stanley raised shares of Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 target price on the stock in a research note on Wednesday, August 19th. Weiss Ratings assumed coverage on Honeywell Aerospace in a research report on Friday. They issued a "sell (d)" rating for the company. Wall Street Zen raised Honeywell Aerospace to a "hold" rating in a report on Sunday, July 12th. Evercore set a $210.00 price objective on Honeywell Aerospace in a research report on Thursday, August 6th. Finally, TD Cowen assumed coverage on Honeywell Aerospace in a research note on Monday, June 29th. They set a "hold" rating and a $250.00 price objective on the stock. Five investment 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. Based on data from MarketBeat, Honeywell Aerospace has an average rating of "Hold" and an average target price of $221.54.

Honeywell Aerospace Price Performance

Honeywell Aerospace stock opened at $164.08 on Monday. The business's fifty day simple moving average is $183.13. The stock has a market capitalization of $52.01 billion and a price-to-earnings ratio of 87.74. Honeywell Aerospace has a 52-week low of $149.19 and a 52-week high of $297.50.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last posted its quarterly 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 during the quarter. As a group, equities analysts expect that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new stake in Honeywell Aerospace in the second quarter valued at approximately $24,053,526,000. BlackRock Inc. purchased a new position in shares of Honeywell Aerospace during the second quarter worth $5,253,341,000. Wellington Management Group LLP acquired a new stake in shares of Honeywell Aerospace in the second quarter valued at $1,705,882,000. Bank of America Corp DE acquired a new position in Honeywell Aerospace during the 2nd quarter worth about $1,034,187,000. Finally, Bank of New York Mellon Corp acquired a new position in Honeywell Aerospace during the 2nd quarter worth about $644,412,000.

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.

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