Beacon Pointe Advisors LLC Takes Position in Honeywell Aerospace $HONA

Key Points

• Beacon Pointe Advisors acquired 46,764 Honeywell Aerospace shares in the second quarter, valued at approximately $10.3 million. Several other institutional investors also initiated positions, including Rakuten Investment Management and Kimelman & Baird.
• Honeywell Aerospace reported quarterly revenue of $4.35 billion, while analysts expect full-year EPS of $7.75. The stock opened at $162.37, with a $51.46 billion market capitalization and an 86.83 price-to-earnings ratio.
• Analyst sentiment remains mixed, with one Strong Buy, five Buy, and nine Hold ratings. The consensus rating is Hold, with an average price target of $224.17, despite several recent target reductions.

Beacon Pointe Advisors LLC 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 13F filing with the Securities and Exchange Commission (SEC). The fund bought 46,764 shares of the company's stock, valued at approximately $10,339,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kimelman & Baird LLC purchased a new position in Honeywell Aerospace in the second quarter valued at approximately $14,164,000. Pin Oak Investment Advisors Inc. acquired a new stake in Honeywell Aerospace during the second quarter worth approximately $1,656,000. Twin Lakes Capital Management LLC purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter worth approximately $339,000. Rakuten Investment Management Inc. purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter worth approximately $16,821,000. Finally, RB Capital Management LLC purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter worth approximately $306,000.

Honeywell Aerospace Trading Up 1.0%

HONA opened at $162.37 on Friday. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50. The firm has a market cap of $51.46 billion and a PE ratio of 86.83. The stock has a 50 day moving average price of $195.14.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its quarterly earnings data 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. As a group, equities analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on HONA. Evercore set a $210.00 target price on shares of Honeywell Aerospace in a research report on Thursday, August 6th. Vertical Research started coverage on shares of Honeywell Aerospace in a research report on Wednesday, July 1st. They issued a "hold" rating and a $243.00 price target for the company. Morgan Stanley raised 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. Royal Bank Of Canada decreased their price objective on shares of Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Finally, BNP Paribas Exane dropped their price objective on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. One 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 data from MarketBeat.com, Honeywell Aerospace 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source