109,349 Shares in Honeywell Aerospace $HONA Bought by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors purchased 109,349 Honeywell Aerospace shares during the second quarter, valued at approximately $24.2 million. Several other institutional investors also established new positions.
• Analysts remain broadly cautious: Honeywell Aerospace has a consensus “Hold” rating and an average price target of $224.17, although RBC maintained an “outperform” rating despite lowering its target.
• HONA shares opened at $151.58, near their 12-month low of $150.03 and well below the $297.50 high. The company reported $4.35 billion in quarterly revenue, while analysts expect fiscal-year EPS of $7.75.

Sequoia Financial Advisors LLC bought a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 109,349 shares of the company's stock, valued at approximately $24,175,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Ironvine Capital Partners LLC acquired a new position in Honeywell Aerospace during the 2nd quarter valued at about $10,452,000. California State Teachers Retirement System acquired a new stake in shares of Honeywell Aerospace in the second quarter valued at approximately $24,053,526,000. SFE Investment Counsel bought a new stake in shares of Honeywell Aerospace during the second quarter valued at approximately $2,981,000. Werlinich Asset Management LLC bought a new stake in shares of Honeywell Aerospace during the second quarter valued at approximately $1,478,000. Finally, MidFirst Bank acquired a new position in shares of Honeywell Aerospace during the second quarter worth approximately $5,608,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HONA shares. Royal Bank Of Canada decreased their price objective on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. UBS Group cut their target price on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Vertical Research initiated coverage on Honeywell Aerospace in a research report on Wednesday, July 1st. They set a "hold" rating and a $243.00 price target for the company. JPMorgan Chase & Co. began coverage on Honeywell Aerospace in a research note on Friday, July 10th. They issued a "neutral" rating and a $255.00 price target for the company. Finally, Wall Street Zen raised Honeywell Aerospace to a "hold" rating in a report on Sunday, July 12th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $224.17.

Honeywell Aerospace Stock Performance

Shares of NASDAQ:HONA opened at $151.58 on Thursday. Honeywell Aerospace has a 12 month low of $150.03 and a 12 month high of $297.50. The company has a market capitalization of $48.04 billion and a PE ratio of 81.06. The business's 50 day moving average price is $188.25.

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

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.