BlueCrest Capital Management Ltd Takes Position in Honeywell Aerospace $HONA

Key Points

• BlueCrest Capital Management bought 11,400 Honeywell Aerospace shares in the second quarter, valued at approximately $2.52 million.
• Several major institutions, including California State Teachers’ Retirement System, BlackRock, Wellington Management and Bank of America, also disclosed new positions in HONA during the quarter.
• HONA opened at $151.58, near its 52-week low, while analysts held a consensus “Hold” rating with an average price target of $224.17; recent targets ranged from $209 to $275.

BlueCrest Capital Management Ltd bought a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,400 shares of the company's stock, valued at approximately $2,520,000.

Several other large investors have also recently bought and sold shares of HONA. California State Teachers Retirement System acquired a new stake in Honeywell Aerospace during the 2nd quarter worth about $24,053,526,000. BlackRock Inc. purchased a new position in Honeywell Aerospace during the 2nd quarter valued at about $5,253,341,000. Wellington Management Group LLP acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $1,705,882,000. Bank of America Corp DE acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $1,034,187,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Honeywell Aerospace in the second quarter worth approximately $644,412,000.

Honeywell Aerospace Price Performance

HONA stock opened at $151.58 on Thursday. The company has a market capitalization of $48.04 billion and a PE ratio of 81.06. The company's 50-day moving average price is $188.25. 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 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. On average, equities analysts forecast that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on HONA shares. 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 price target for the company. Evercore set a $210.00 target price on shares of Honeywell Aerospace in a research report on Thursday, August 6th. Argus began coverage on shares of Honeywell Aerospace in a research note on Thursday, July 9th. They set a "buy" rating and a $275.00 target price for the company. Royal Bank Of Canada lowered their price target 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. Finally, BMO Capital Markets dropped their target price on Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $224.17.

About Honeywell Aerospace

Honeywell Aerospace is an aerospace technology company that develops and supplies systems, components and services for commercial aviation, business and general aviation, defense and space markets. Its portfolio includes aircraft engines, auxiliary power units, avionics, flight controls, navigation and communication systems, thermal management equipment, wheels and brakes, and other propulsion and safety technologies.

The company serves aircraft manufacturers, airlines, business aviation operators, military customers and aftermarket service providers around the world.

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