Coastal Bridge Advisors LLC Makes New Investment in Honeywell Aerospace $HONA

Key Points

• Coastal Bridge Advisors acquired 35,112 Honeywell Aerospace shares during the second quarter, worth approximately $7.76 million, while several other institutional investors also initiated positions.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $224.17; recent targets range from $209 to $250 after several firms lowered their forecasts.
• HONA opened at $160.75, near its 52-week low of $150.03 and well below its $297.50 high. The company reported $4.35 billion in quarterly revenue, and analysts expect full-year EPS of $7.75.

Coastal Bridge Advisors LLC acquired a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,112 shares of the company's stock, valued at approximately $7,763,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Bell Investment Advisors Inc purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at about $29,000. Strategic Wealth Advisors LLC acquired a new position in Honeywell Aerospace during the 2nd quarter worth approximately $29,000. Meeder Asset Management Inc. purchased a new position in Honeywell Aerospace in the 2nd quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Honeywell Aerospace in the 2nd quarter worth approximately $40,000. Finally, Gables Capital Management Inc. purchased a new position in Honeywell Aerospace in the 2nd quarter worth approximately $47,000.

Analysts Set New Price Targets

HONA has been the topic of a number of analyst reports. TD Cowen initiated coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They set a "hold" rating and a $250.00 price objective on the stock. Royal Bank Of Canada decreased their target price on shares of Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Evercore set a $210.00 price target on shares of Honeywell Aerospace in a report on Thursday, August 6th. Zacks Research raised shares of Honeywell Aerospace to a "hold" rating in a research note on Wednesday, July 1st. Finally, BMO Capital Markets cut their price objective 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. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Honeywell Aerospace has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Stock Performance

Honeywell Aerospace stock opened at $160.75 on Friday. The stock has a market cap of $50.95 billion and a PE ratio of 85.96. The firm's 50 day simple moving average is $195.92. 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 issued its quarterly earnings results 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 during the quarter. Equities analysts forecast 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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