CORDA Investment Management LLC. Makes New Investment in Honeywell Aerospace $HONA

Key Points

• CORDA Investment Management purchased 51,841 Honeywell Aerospace shares in the second quarter, valued at approximately $11.6 million. Several other institutional investors also established new positions.
• Analyst sentiment is mixed but leans neutral: one analyst rates the stock Strong Buy, four rate it Buy, and ten rate it Hold. The consensus rating is Hold, with an average price target of $224.17.
• HONA opened at $166.36, compared with a 52-week range of $150.03 to $297.50, and has a market capitalization of about $52.7 billion. Honeywell Aerospace reported $4.35 billion in quarterly revenue, while analysts expect $7.75 in full-year EPS.

CORDA Investment Management LLC. purchased a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 51,841 shares of the company's stock, valued at approximately $11,607,000.

Several other hedge funds also recently modified their holdings of the business. Hardy Reed LLC acquired a new stake in shares of Honeywell Aerospace in the second quarter worth $1,151,000. Plan Group Financial LLC acquired a new position in Honeywell Aerospace during the 2nd quarter valued at $270,000. Mill Capital Management LLC acquired a new position in Honeywell Aerospace during the 2nd quarter valued at $419,000. Bryn Mawr Trust Advisors LLC acquired a new position in Honeywell Aerospace during the 2nd quarter valued at $1,301,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Honeywell Aerospace in the 2nd quarter valued at $8,809,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HONA shares. Wall Street Zen upgraded shares of Honeywell Aerospace to a "hold" rating in a research report on Sunday, July 12th. UBS Group cut their price objective on shares of Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. Wolfe Research started coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating for the company. Melius Research raised Honeywell Aerospace to a "strong-buy" rating in a research report on Monday, June 29th. Finally, Jefferies Financial Group set a $175.00 target price on Honeywell Aerospace in a research report on Sunday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Stock Performance

HONA opened at $166.36 on Friday. Honeywell Aerospace has a fifty-two week low of $150.03 and a fifty-two week high of $297.50. The firm has a market cap of $52.73 billion and a price-to-earnings ratio of 88.96.

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

Honeywell Aerospace 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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