Allworth Financial LP Buys Shares of 74,489 Honeywell Aerospace $HONA

Key Points

• Allworth Financial purchased 74,489 Honeywell Aerospace shares during the second quarter, worth approximately $16.5 million. Several other institutional investors also initiated positions in the company.
• Morgan Stanley upgraded Honeywell Aerospace to Overweight with a $205 price target, citing an attractive entry point after the stock’s selloff. However, broader analyst sentiment remains mixed, with a consensus rating of Hold and an average target of $224.17.
• Honeywell Aerospace shares opened at $165.89, well below their 12-month high of $297.50, while the company faces macroeconomic pressures and a shareholder investigation announced by Bragar Eagel & Squire.

Allworth Financial LP purchased a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 74,489 shares of the company's stock, valued at approximately $16,468,000.

A number of other hedge funds also recently made changes to their positions in HONA. Hardy Reed LLC acquired a new position in shares of Honeywell Aerospace during the second quarter worth approximately $1,151,000. Plan Group Financial LLC acquired a new position in Honeywell Aerospace during the 2nd quarter worth $270,000. Mill Capital Management LLC bought a new position in shares of Honeywell Aerospace in the second quarter worth $419,000. Bryn Mawr Trust Advisors LLC bought a new position in shares of Honeywell Aerospace in the second quarter worth $1,301,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Honeywell Aerospace during the second quarter valued at $8,809,000.

Honeywell Aerospace News Roundup

Here are the key news stories impacting Honeywell Aerospace this week:

• Positive Sentiment: Morgan Stanley upgraded Honeywell Aerospace to Overweight from Equal-weight and maintained a $205 price target. Analyst Kristine Liwag argued that the recent selloff created an attractive entry point, implying substantial upside from current levels. Honeywell Aerospace Stock Upgraded to Overweight Following Sell-Off
• Positive Sentiment: Multiple reports highlighted Morgan Stanley’s view that Honeywell Aerospace had become “too cheap to ignore.” The upgrade helped drive a sharp rebound in the stock during the prior session and may support investor confidence in the company’s long-term earnings outlook. Honeywell Aerospace is now too cheap to ignore, says Morgan Stanley
• Neutral Sentiment: Analyst coverage remains mixed, suggesting that Morgan Stanley’s bullish stance is not universally shared. Investors are likely balancing the $205 price target against valuation concerns, recent volatility, and uncertainty in the broader market. Honeywell Aerospace Sees Mixed Analyst Views
• Neutral Sentiment: Broader market conditions were also unfavorable, with rising yields and geopolitical concerns weighing on equities. Those macroeconomic pressures could limit the immediate benefit of the Morgan Stanley upgrade. Top Wall Street Analyst Research Calls
• Negative Sentiment: Law firm Bragar Eagel & Squire announced an investigation into Honeywell Aerospace on behalf of shareholders who suffered losses. Although the announcement does not establish wrongdoing, litigation-related headlines can increase uncertainty and weigh on the stock. Honeywell Aerospace Stockholder Alert

Honeywell Aerospace Price Performance

Shares of NASDAQ HONA opened at $165.89 on Friday. Honeywell Aerospace has a twelve month low of $150.03 and a twelve month high of $297.50. The stock has a market capitalization of $52.58 billion and a price-to-earnings ratio of 88.71.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released its quarterly earnings data 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. On average, equities research analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HONA shares. Zacks Research upgraded shares of Honeywell Aerospace to a "hold" rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. started coverage on shares of Honeywell Aerospace in a research report on Friday, July 10th. They issued a "neutral" rating and a $255.00 target price for the company. Evercore set a $210.00 target price on shares of Honeywell Aerospace in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Honeywell Aerospace to a "hold" rating in a research report on Sunday, July 12th. Finally, UBS Group reduced their price target on shares of Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $224.17.

About Honeywell Aerospace

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.

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.

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