Beacon Pointe Advisors LLC Buys Shares of 46,780 Honeywell Aerospace $HONA

Key Points

• Beacon Pointe Advisors initiated a Honeywell Aerospace position by purchasing 46,780 shares worth approximately $10.5 million in the second quarter. Several other institutional investors also established new stakes.
• Analyst sentiment remains mixed but leans positive, with recent upgrades from Morgan Stanley and Melius Research; however, MarketBeat’s consensus rating is Hold, with an average price target of $224.17.
• Honeywell Aerospace shares opened at $162.37, near the lower end of their $150.03–$297.50 one-year range. The company reported $4.35 billion in quarterly revenue, while analysts expect full-year EPS of $7.75.

Beacon Pointe Advisors LLC bought a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 46,780 shares of the company's stock, valued at approximately $10,475,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HONA. Bell Investment Advisors Inc acquired a new position in Honeywell Aerospace in the second quarter worth approximately $29,000. Meeder Asset Management Inc. acquired a new stake in Honeywell Aerospace in the second quarter valued at approximately $29,000. Strategic Wealth Advisors LLC bought a new stake in Honeywell Aerospace in the second quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Honeywell Aerospace in the second quarter worth approximately $40,000. Finally, Gables Capital Management Inc. bought a new stake in Honeywell Aerospace in the second quarter worth approximately $47,000.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Honeywell Aerospace to a "hold" rating in a report on Wednesday, July 1st. Morgan Stanley upgraded shares of Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price objective for the company in a report on Wednesday, August 19th. Argus started coverage on shares of Honeywell Aerospace in a research report on Thursday, July 9th. They set a "buy" rating and a $275.00 target price on the stock. Wells Fargo & Company set a $195.00 target price on Honeywell Aerospace in a report on Monday, August 10th. Finally, Melius Research raised Honeywell Aerospace to a "strong-buy" rating in a research report on Monday, June 29th. One equities research 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. According to MarketBeat, Honeywell Aerospace currently has a consensus rating of "Hold" and an average price target of $224.17.

Honeywell Aerospace Trading Up 1.0%

Shares of HONA stock opened at $162.37 on Friday. The company has a fifty day moving average of $195.14. Honeywell Aerospace has a one year low of $150.03 and a one year high of $297.50. The firm has a market cap of $51.46 billion and a price-to-earnings ratio of 86.83.

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 (EPS) for the quarter. The company had revenue of $4.35 billion for the quarter. As a group, research analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current year.

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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