California State Teachers Retirement System Makes New $24.05 Billion Investment in Honeywell Aerospace $HONA

Key Points

• California State Teachers Retirement System acquired 108.8 million Honeywell Aerospace shares worth approximately $24.05 billion, representing about 34.33% of the company according to its latest SEC filing.
• Analyst sentiment remains mixed: Morgan Stanley upgraded the stock to “overweight,” while other firms issued “hold” or “outperform” ratings. The consensus rating is “Hold,” with an average price target of $224.17.
• Honeywell Aerospace shares opened at $161.01, down significantly from their 52-week high of $297.50; the company reported $4.35 billion in quarterly revenue and has a market capitalization of about $51.03 billion.

California State Teachers Retirement System bought a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 108,800,100 shares of the company's stock, valued at approximately $24,053,526,000. California State Teachers Retirement System owned approximately 34.33% of Honeywell Aerospace as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HONA. Ameliora Wealth Management Ltd. purchased a new position in shares of Honeywell Aerospace during the second quarter valued at $25,000. Leo H. Evart Inc. purchased a new stake in Honeywell Aerospace in the second quarter worth about $26,000. Outlook Capital Management LLC purchased a new stake in Honeywell Aerospace in the second quarter worth about $26,000. Bell Investment Advisors Inc bought a new position in Honeywell Aerospace during the 2nd quarter worth about $29,000. Finally, Meeder Asset Management Inc. bought a new position in Honeywell Aerospace during the 2nd quarter worth about $29,000.

Wall Street Analyst Weigh In

HONA has been the subject of several recent research reports. Morgan Stanley upgraded shares of Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price target for the company in a report on Wednesday, August 19th. Jefferies Financial Group set a $175.00 price objective on shares of Honeywell Aerospace in a research note on Sunday, August 9th. TD Cowen assumed coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a "hold" rating and a $250.00 price objective on the stock. Zacks Research raised shares of Honeywell Aerospace to a "hold" rating in a research note on Wednesday, July 1st. Finally, Royal Bank Of Canada lowered their target price on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. One 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, the stock presently has a consensus rating of "Hold" and an average price target of $224.17.

Honeywell Aerospace Price Performance

NASDAQ:HONA opened at $161.01 on Tuesday. Honeywell Aerospace has a 52 week low of $150.03 and a 52 week high of $297.50. The company's 50 day moving average price is $190.46. The stock has a market capitalization of $51.03 billion and a PE ratio of 86.10.

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