Baird Financial Group Inc. Purchases New Shares in Honeywell Aerospace $HONA

Key Points

• Baird Financial Group initiated a Honeywell Aerospace position by purchasing 119,841 shares worth approximately $26.5 million in the second quarter. Several other institutional investors also established new stakes.
• Analyst sentiment remains cautious: HONA has an average rating of “Hold” and a consensus price target of $224.17, while several firms recently lowered their targets.
• Honeywell Aerospace shares opened at $153.75, near their 52-week low of $149.19 and well below the $297.50 high. The company reported $4.35 billion in quarterly revenue, and analysts expect $7.75 in full-year EPS.

Baird Financial Group Inc. acquired a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 119,841 shares of the company's stock, valued at approximately $26,494,000.

Other large investors have also recently modified their holdings of the company. Ironvine Capital Partners LLC bought a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $10,452,000. California State Teachers Retirement System purchased a new stake in Honeywell Aerospace in the second quarter worth $24,053,526,000. SFE Investment Counsel purchased a new stake in Honeywell Aerospace in the second quarter worth $2,981,000. Werlinich Asset Management LLC purchased a new stake in Honeywell Aerospace in the second quarter worth $1,478,000. Finally, MidFirst Bank bought a new position in Honeywell Aerospace in the second quarter worth $5,608,000.

Analyst Ratings Changes

HONA has been the topic of a number of research reports. BNP Paribas Exane dropped their target price on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. JPMorgan Chase & Co. initiated coverage on shares of Honeywell Aerospace in a research note on Friday, July 10th. They issued a "neutral" rating and a $255.00 price target for the company. BMO Capital Markets dropped their price objective on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a research note on Monday, August 10th. Vertical Research assumed coverage on shares of Honeywell Aerospace in a report on Wednesday, July 1st. They issued a "hold" rating and a $243.00 price objective on the stock. Finally, UBS Group decreased their target price 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 investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Stock Performance

HONA stock opened at $153.75 on Friday. The company has a market capitalization of $48.73 billion and a P/E ratio of 82.22. The firm has a 50-day moving average price of $186.38. Honeywell Aerospace has a fifty-two week low of $149.19 and a fifty-two week 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 firm had revenue of $4.35 billion for the quarter. On average, sell-side analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current year.

About Honeywell Aerospace

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.

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