Brasada Capital Management LP Invests $3.55 Million in Honeywell Aerospace $HONA

Key Points

• Brasada Capital Management acquired 16,045 Honeywell Aerospace shares worth approximately $3.55 million during the second quarter.
• Several major institutions, including BlackRock, Bank of America and Bank of New York Mellon, also initiated sizable positions in HONA.
• Analysts have a consensus “Hold” rating with an average price target of $224.17, while the stock opened at $160.75 and remains near its one-year low.

Brasada Capital Management LP bought a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,045 shares of the company's stock, valued at approximately $3,547,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Honeywell Aerospace in the 2nd quarter valued at $5,253,341,000. Bank of America Corp DE acquired a new position in shares of Honeywell Aerospace during the second quarter worth about $1,034,187,000. Bank of New York Mellon Corp acquired a new position in shares of Honeywell Aerospace during the second quarter worth about $644,412,000. Legal & General Group Plc purchased a new stake in shares of Honeywell Aerospace in the second quarter worth about $370,665,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Honeywell Aerospace in the second quarter worth about $205,658,000.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HONA. JPMorgan Chase & Co. assumed coverage on Honeywell Aerospace in a research note on Friday, July 10th. They issued a "neutral" rating and a $255.00 target price for the company. BMO Capital Markets reduced their price target 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. Argus began coverage on Honeywell Aerospace in a report on Thursday, July 9th. They issued a "buy" rating and a $275.00 price target for the company. Zacks Research raised shares of Honeywell Aerospace to a "hold" rating in a research report on Wednesday, July 1st. Finally, Vertical Research initiated coverage on shares of Honeywell Aerospace in a research note on Wednesday, July 1st. They set a "hold" rating and a $243.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Honeywell Aerospace currently has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Price Performance

HONA opened at $160.75 on Friday. The company has a market cap of $50.95 billion and a P/E ratio of 85.96. The business has a 50-day moving average of $195.92. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its quarterly earnings results on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The company had revenue of $4.35 billion for the quarter. As a group, sell-side analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current year.

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.

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