BMO Capital Markets Has Lowered Expectations for Honeywell Aerospace (NASDAQ:HONA) Stock Price

Key Points

• BMO Capital Markets cut Honeywell Aerospace’s price target from $276 to $209 while maintaining an “outperform” rating, implying roughly 24% upside from the stock’s $168.51 price.
• Analyst sentiment is mixed: the stock has an overall “Hold” consensus, with an average price target of $228.75. Recent targets range from $205 at Morgan Stanley to $275 at Argus.
• Honeywell Aerospace reported $4.35 billion in quarterly revenue and analysts expect fiscal-year EPS of 7.75; several major institutional investors, including BlackRock and Bank of New York Mellon, recently established positions.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) had its price target reduced by stock analysts at BMO Capital Markets from $276.00 to $209.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' target price indicates a potential upside of 24.03% from the stock's current price.

A number of other research analysts have also recently issued reports on HONA. Royal Bank Of Canada decreased their target price on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Thursday. JPMorgan Chase & Co. began coverage on Honeywell Aerospace in a research report on Friday, July 10th. They issued a "neutral" rating and a $255.00 price objective for the company. Argus assumed coverage on shares of Honeywell Aerospace in a report on Thursday, July 9th. They set a "buy" rating and a $275.00 target price on the stock. Wells Fargo & Company started coverage on shares of Honeywell Aerospace in a report on Wednesday, July 1st. They issued an "equal weight" rating and a $250.00 price target for the company. Finally, Morgan Stanley set a $205.00 target price on shares of Honeywell Aerospace in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $228.75.

Honeywell Aerospace Price Performance

HONA opened at $168.51 on Monday. Honeywell Aerospace has a 52 week low of $150.03 and a 52 week high of $297.50.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released its quarterly earnings data on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The company had revenue of $4.35 billion during the quarter. Equities research analysts expect that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Honeywell Aerospace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Honeywell Aerospace in the 2nd quarter valued at about $5,253,341,000. Bank of New York Mellon Corp bought a new position in Honeywell Aerospace during the 2nd quarter worth $644,412,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Honeywell Aerospace in the second quarter valued at about $205,658,000. Deutsche Bank AG bought a new stake in shares of Honeywell Aerospace during the 2nd quarter worth approximately $152,933,000. Finally, Danica Pension Livsforsikringsaktieselskab bought a new stake in Honeywell Aerospace during the second quarter worth $21,402,000.

Honeywell Aerospace Company Profile

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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