Brooks Moore & Associates Inc. Makes New $2.19 Million Investment in Honeywell Aerospace $HONA

Key Points

• Brooks Moore & Associates acquired 9,885 Honeywell Aerospace shares worth approximately $2.19 million in the second quarter, joining several other institutional investors that initiated positions.
• Analyst sentiment is mixed but leans neutral: HONA has one Strong Buy, five Buy and nine Hold ratings, with an average rating of Hold and a consensus price target of $224.17.
• Honeywell Aerospace shares opened at $160.75, near their 12-month low of $150.03 and well below the $297.50 high. The company reported quarterly revenue of $4.35 billion, while analysts expect full-year EPS of $7.75.

Brooks Moore & Associates Inc. purchased a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,885 shares of the company's stock, valued at approximately $2,185,000.

A number of other hedge funds have also made changes to their positions in HONA. Grandfield & Dodd LLC acquired a new stake in Honeywell Aerospace in the 2nd quarter worth approximately $759,000. SCS Capital Management LLC bought a new stake in Honeywell Aerospace during the second quarter worth approximately $1,821,000. SFE Investment Counsel acquired a new position in Honeywell Aerospace during the second quarter valued at approximately $2,981,000. MidFirst Bank acquired a new position in Honeywell Aerospace during the second quarter valued at approximately $5,608,000. Finally, IMC Chicago LLC bought a new position in shares of Honeywell Aerospace in the second quarter valued at approximately $10,508,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HONA. Zacks Research upgraded shares of Honeywell Aerospace to a "hold" rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded shares of Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. Argus began coverage on shares of Honeywell Aerospace in a report on Thursday, July 9th. They issued a "buy" rating and a $275.00 target price on the stock. BMO Capital Markets dropped their target price on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a report on Monday, August 10th. Finally, Vertical Research started coverage on shares of Honeywell Aerospace in a research report on Wednesday, July 1st. They set a "hold" rating and a $243.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the stock. According to 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 firm has a market cap of $50.95 billion and a price-to-earnings ratio of 85.96. The firm has a 50 day simple moving average of $195.92. Honeywell Aerospace has a 12-month low of $150.03 and a 12-month 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 business had revenue of $4.35 billion for the quarter. As a group, equities research analysts expect that Honeywell Aerospace will post 7.75 EPS for the current year.

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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