Bank of Nova Scotia Takes Position in Honeywell Aerospace $HONA

Key Points

• Bank of Nova Scotia acquired 125,537 Honeywell Aerospace shares in the second quarter, valued at approximately $28.1 million. Several other institutional investors also initiated smaller positions.
• HONA opened at $164.73, with a market capitalization of $52.21 billion and a P/E ratio of 88.09. The company reported quarterly revenue of $4.35 billion, while analysts expect full-year earnings per share of $7.75.
• Analyst sentiment is mixed: Morgan Stanley upgraded the stock to overweight, while other firms maintained hold or neutral views. Honeywell Aerospace has an average “Hold” rating and a consensus price target of $224.17.

Bank of Nova Scotia bought a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 125,537 shares of the company's stock, valued at approximately $28,120,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in shares of Honeywell Aerospace in the second quarter valued at about $29,000. Bell Investment Advisors Inc bought a new position in Honeywell Aerospace during the second quarter worth about $29,000. Strategic Wealth Advisors LLC acquired a new stake in Honeywell Aerospace in the 2nd quarter worth about $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Honeywell Aerospace in the 2nd quarter worth about $40,000. Finally, Gables Capital Management Inc. acquired a new stake in Honeywell Aerospace in the 2nd quarter worth about $47,000.

Honeywell Aerospace Price Performance

HONA stock opened at $164.73 on Monday. The company has a market cap of $52.21 billion and a P/E ratio of 88.09. 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 posted its earnings results 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. As a group, research analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wolfe Research initiated coverage on Honeywell Aerospace in a report on Monday, June 29th. They set a "hold" rating on the stock. Morgan Stanley raised Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price target for the company in a research note on Wednesday. Jefferies Financial Group set a $175.00 price objective on shares of Honeywell Aerospace in a research report on Sunday, August 9th. Evercore set a $210.00 price objective on shares of Honeywell Aerospace in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Honeywell Aerospace in a report on Friday, July 10th. They issued a "neutral" rating and a $255.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Honeywell Aerospace currently has an average rating of "Hold" and a consensus target price of $224.17.

Honeywell Aerospace 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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