Bright Rock Capital Management LLC Makes New Investment in Honeywell Aerospace $HONA

Key Points

• Bright Rock Capital Management acquired 56,250 Honeywell Aerospace shares worth approximately $8.7 million, making the stock about 1.6% of its portfolio. Several other hedge funds also initiated positions during the second quarter.
• Analyst views remain mixed: six analysts rate HONA a Buy, nine a Hold, and two a Sell. The consensus rating is Hold, with an average price target of $219.29, despite recent target reductions from some firms.
• Honeywell Aerospace shares rose 0.6% to $155.63, giving the company a market capitalization of roughly $49.3 billion. The stock remains near its 12-month low of $149.19 and well below its 12-month high of $297.50.

Bright Rock Capital Management LLC acquired a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 56,250 shares of the company's stock, valued at approximately $8,717,000. Honeywell Aerospace comprises about 1.6% of Bright Rock Capital Management LLC's holdings, making the stock its 21st largest holding.

A number of other hedge funds have also bought and sold shares of the business. Ameliora Wealth Management Ltd. purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at about $25,000. Leo H. Evart Inc. bought a new position in Honeywell Aerospace during the second quarter valued at approximately $26,000. Outlook Capital Management LLC bought a new position in Honeywell Aerospace during the second quarter valued at approximately $26,000. Security National Bank of SO Dak purchased a new stake in Honeywell Aerospace in the second quarter worth approximately $27,000. Finally, Cherry Tree Wealth Management LLC bought a new stake in Honeywell Aerospace in the 2nd quarter worth approximately $28,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HONA. Royal Bank Of Canada lowered their price target on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Melius Research set a $190.00 price objective on Honeywell Aerospace in a report on Monday, September 14th. Wells Fargo & Company set a $195.00 price objective on Honeywell Aerospace in a research report on Monday, August 10th. BNP Paribas Exane lowered their target price on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. Finally, Morgan Stanley raised Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 target price on the stock in a research report on Wednesday, August 19th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $219.29.

Honeywell Aerospace Stock Up 0.6%

Shares of HONA stock traded up $1.00 during mid-day trading on Monday, reaching $155.63. 732,204 shares of the company's stock traded hands, compared to its average volume of 3,664,224. The stock has a market cap of $49.33 billion and a price-to-earnings ratio of 83.28. Honeywell Aerospace has a 12 month low of $149.19 and a 12 month high of $297.50. The firm's 50 day moving average price is $168.57.

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

Honeywell Aerospace Company Profile

Honeywell Aerospace is an aerospace and defense technology company that develops systems and equipment for commercial aircraft, business and general aviation, military platforms, and spacecraft. Its portfolio includes aircraft engines and propulsion systems, auxiliary power units, avionics, flight controls, environmental control systems, electrical power systems, landing systems, communications technology, and aircraft safety products.

The company also provides software, connected-aircraft technologies, maintenance, repair and overhaul services, spare parts, upgrades, and other aftermarket support.

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