Arizona State Retirement System Purchases Shares of 88,194 Honeywell Aerospace $HONA

Key Points

• Arizona State Retirement System acquired 88,194 Honeywell Aerospace shares in the second quarter, valued at approximately $19.5 million. Several other institutional investors also initiated small positions.
• Honeywell Aerospace shares opened at $155.42, near their 12-month low of $150.03 and well below the 12-month high of $297.50; the company had a market capitalization of $49.26 billion.
• Analysts maintain a consensus “Hold” rating, with an average price target of $224.17. Recent targets range from $175 to $275, while Morgan Stanley upgraded the stock to “Overweight.”

Arizona State Retirement System acquired a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,194 shares of the company's stock, valued at approximately $19,498,000.

Other institutional investors have also recently modified their holdings of the company. Ameliora Wealth Management Ltd. purchased a new stake in Honeywell Aerospace in the second quarter valued at $25,000. Leo H. Evart Inc. purchased a new position in Honeywell Aerospace in the second quarter valued at $26,000. Outlook Capital Management LLC purchased a new position in Honeywell Aerospace in the second quarter valued at $26,000. Meeder Asset Management Inc. acquired a new position in shares of Honeywell Aerospace in the second quarter worth about $29,000. Finally, Bell Investment Advisors Inc purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter worth about $29,000.

Honeywell Aerospace Price Performance

NASDAQ HONA opened at $155.42 on Wednesday. The firm has a market capitalization of $49.26 billion and a PE ratio of 83.11. The firm has a 50-day moving average of $189.76. Honeywell Aerospace has a 12 month low of $150.03 and a 12 month high of $297.50.

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

Wall Street Analyst Weigh In

HONA has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $195.00 target price on Honeywell Aerospace in a research report on Monday, August 10th. Argus started coverage on shares of Honeywell Aerospace in a report on Thursday, July 9th. They issued a "buy" rating and a $275.00 price target for the company. Jefferies Financial Group set a $175.00 price objective on shares of Honeywell Aerospace in a report on Sunday, August 9th. Evercore set a $210.00 target price on shares of Honeywell Aerospace in a research note on Thursday, August 6th. Finally, Morgan Stanley upgraded shares of Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price target for the company in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company 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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