Concurrent Investment Advisors LLC Makes New $7.84 Million Investment in Honeywell Aerospace $HONA

Key Points

• Concurrent Investment Advisors purchased 30,622 shares of Honeywell Aerospace in the second quarter, valued at approximately $7.84 million.
• Several major institutions, including BlackRock, Wellington Management, and Bank of America, also established significant positions in the company during the quarter.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $224.17; Honeywell Aerospace shares opened at $161.01, with a market capitalization of about $51.03 billion.

Concurrent Investment Advisors LLC purchased a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,622 shares of the company's stock, valued at approximately $7,840,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth $5,253,341,000. Wellington Management Group LLP purchased a new stake in shares of Honeywell Aerospace during the second quarter valued at $1,705,882,000. Bank of America Corp DE purchased a new stake in shares of Honeywell Aerospace during the second quarter valued at $1,034,187,000. Bank of New York Mellon Corp acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at $644,412,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at $370,544,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on HONA shares. JPMorgan Chase & Co. initiated coverage on Honeywell Aerospace in a research note on Friday, July 10th. They issued a "neutral" rating and a $255.00 price target on the stock. Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a report on Monday, August 10th. Royal Bank Of Canada dropped their target price on shares of Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. Evercore set a $210.00 price target on shares of Honeywell Aerospace in a research report on Thursday, August 6th. Finally, Morgan Stanley raised shares of Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price objective for the company in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, Honeywell Aerospace has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Stock Up 3.9%

Shares of NASDAQ:HONA opened at $161.01 on Friday. The firm has a market cap of $51.03 billion and a price-to-earnings ratio of 86.10. Honeywell Aerospace has a 12-month low of $150.03 and a 12-month high of $297.50. The firm's fifty day moving average is $191.08.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its earnings results on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The firm had revenue of $4.35 billion during the quarter. 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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