BlackRock Inc. Takes Position in Honeywell Aerospace $HONA

Key Points

• BlackRock acquired 22.78 million Honeywell Aerospace shares during the second quarter, valued at approximately $5.1 billion and representing a 7.19% stake.
• Honeywell Aerospace shares opened at $160.76, near the lower end of their 52-week range of $150.03 to $297.50. The company reported $4.35 billion in quarterly revenue, while analysts expect full-year earnings per share of $7.75.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $224.17 after several firms lowered their targets.

BlackRock Inc. purchased a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,778,297 shares of the company's stock, valued at approximately $5,100,061,000. BlackRock Inc. owned approximately 7.19% of Honeywell Aerospace at the end of the most recent reporting period.

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

Honeywell Aerospace Stock Down 0.5%

Shares of NASDAQ HONA opened at $160.76 on Wednesday. The company has a market cap of $50.95 billion and a P/E ratio of 85.97. Honeywell Aerospace has a 52-week low of $150.03 and a 52-week 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 firm had revenue of $4.35 billion during the quarter. As a group, equities research analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Analysts Set New Price Targets

HONA has been the subject of several analyst reports. Wolfe Research started coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They set a "hold" rating for the company. Royal Bank Of Canada cut their price objective 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. BNP Paribas Exane reduced their price objective 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. JPMorgan Chase & Co. began coverage on shares of Honeywell Aerospace in a report on Friday, July 10th. They set a "neutral" rating and a $255.00 target price for the company. Finally, UBS Group dropped their target price on shares of Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus 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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