Bank of New York Mellon Corp Acquires Shares of 2,914,841 Honeywell Aerospace $HONA

Key Points

• Bank of New York Mellon acquired 2.91 million Honeywell Aerospace shares worth approximately $644.4 million, representing about 0.92% of the company. Several other institutional investors also established new positions during the second quarter.
• Honeywell Aerospace shares opened at $165.89, with a market capitalization of $52.58 billion and a price-to-earnings ratio of 88.71. The company reported quarterly revenue of $4.35 billion, while analysts expect full-year earnings of $7.75 per share.
• Analyst sentiment remains mixed: Morgan Stanley upgraded the stock to Overweight with a $205 target, but the broader analyst consensus is Hold with an average target of $224.17. Investors also face macroeconomic pressures and a recently announced shareholder investigation.

Bank of New York Mellon Corp acquired a new stake in shares of 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 acquired 2,914,841 shares of the company's stock, valued at approximately $644,412,000. Bank of New York Mellon Corp owned approximately 0.92% of Honeywell Aerospace as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Honeywell Aerospace during the second quarter worth $1,546,000. ABN AMRO Bank N.V. purchased a new stake in Honeywell Aerospace in the second quarter valued at $401,000. Summit Asset Management LLC purchased a new position in Honeywell Aerospace during the second quarter worth about $1,081,000. S&CO Inc. purchased a new stake in Honeywell Aerospace in the second quarter valued at approximately $623,000. Finally, Helios Capital Management PTE. Ltd. purchased a new position in Honeywell Aerospace during the 2nd quarter valued at about $553,000.

Honeywell Aerospace Stock Performance

Honeywell Aerospace stock opened at $165.89 on Friday. The stock has a market capitalization of $52.58 billion and a PE ratio of 88.71. Honeywell Aerospace has a 1 year low of $150.03 and a 1 year 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 for the quarter. The business had revenue of $4.35 billion for the quarter. On average, research analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current year.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HONA. Royal Bank Of Canada reduced their target price 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. Evercore set a $210.00 price objective on Honeywell Aerospace in a research report on Thursday, August 6th. BNP Paribas Exane dropped their price target on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Zacks Research upgraded Honeywell Aerospace to a "hold" rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley raised Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 target price on the stock in a report on Wednesday. One investment 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.

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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