106,610 Shares in Honeywell Aerospace $HONA Bought by Cullen Capital Management LLC

Key Points

• Cullen Capital Management acquired 106,610 shares of Honeywell Aerospace during the second quarter, valued at approximately $23.6 million. Several other institutional investors also initiated positions in the company.
• Honeywell Aerospace shares opened at $161.20, down 2.1%, with a market capitalization of $51.1 billion and a trading range of $150.03 to $297.50 over the past year.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $224.17, despite recent target-price cuts and Morgan Stanley’s upgrade to “Overweight.”

Cullen Capital Management LLC acquired a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 106,610 shares of the company's stock, valued at approximately $23,569,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HONA. Grandfield & Dodd LLC bought a new position in Honeywell Aerospace in the second quarter worth about $759,000. SCS Capital Management LLC bought a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $1,821,000. SFE Investment Counsel purchased a new position in shares of Honeywell Aerospace in the 2nd quarter valued at approximately $2,981,000. MidFirst Bank bought a new stake in shares of Honeywell Aerospace during the second quarter valued at approximately $5,608,000. Finally, IMC Chicago LLC purchased a new stake in Honeywell Aerospace in the second quarter worth $10,508,000.

Honeywell Aerospace Stock Down 2.1%

Shares of NASDAQ HONA opened at $161.20 on Tuesday. The company has a market capitalization of $51.09 billion and a P/E ratio of 86.20. Honeywell Aerospace has a twelve month low of $150.03 and a twelve month high of $297.50.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its earnings results on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The business had revenue of $4.35 billion for the quarter. Sell-side analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. BMO Capital Markets dropped their target price on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a report on Monday, August 10th. Royal Bank Of Canada cut their price objective on shares of Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Zacks Research upgraded shares of Honeywell Aerospace to a "hold" rating in a report on Wednesday, July 1st. BNP Paribas Exane cut their price target on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Finally, Morgan Stanley upgraded Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price objective for the company in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Honeywell Aerospace presently has a consensus rating of "Hold" and an average price target of $224.17.

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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