BlackRock Inc. Invests $5.25 Billion in Honeywell Aerospace $HONA

Key Points

• BlackRock acquired 23.76 million Honeywell Aerospace shares worth approximately $5.25 billion, representing about 7.5% of the company.
• Honeywell Aerospace shares opened at $160.76, with a market capitalization of roughly $50.95 billion and a 52-week range of $150.03 to $297.50.
• Analysts maintain a consensus “Hold” rating with an average price target of $224.17, despite targets ranging from $205 to $255.

BlackRock Inc. bought a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,762,174 shares of the company's stock, valued at approximately $5,253,341,000. BlackRock Inc. owned about 7.50% of Honeywell Aerospace as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Bell Investment Advisors Inc purchased a new position in Honeywell Aerospace in the second quarter worth $29,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at $67,000. Kelleher Financial Advisors purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at $78,000. J.Safra Asset Management Corp acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter worth $124,000. Finally, Dunhill Financial LLC acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter worth $144,000.

Honeywell Aerospace Stock Performance

Shares of NASDAQ HONA opened at $160.76 on Wednesday. Honeywell Aerospace has a 52 week low of $150.03 and a 52 week high of $297.50. The company has a market capitalization of $50.95 billion and a P/E ratio of 85.97.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released its quarterly earnings data on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The business had revenue of $4.35 billion during the quarter. Sell-side analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HONA has been the topic of several recent analyst reports. Morgan Stanley set a $205.00 target price on Honeywell Aerospace in a research report on Friday, August 7th. BNP Paribas Exane lowered their target price on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Wall Street Zen raised shares of Honeywell Aerospace to a "hold" rating in a research report on Sunday, July 12th. Vertical Research began coverage on shares of Honeywell Aerospace in a research note on Wednesday, July 1st. They set a "hold" rating and a $243.00 price target on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Honeywell Aerospace in a report on Friday, July 10th. They issued a "neutral" rating and a $255.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Honeywell Aerospace currently has an average rating of "Hold" and a consensus target price of $224.17.

About Honeywell Aerospace

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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