Covington Investment Advisors Inc. Invests $3.87 Million in Honeywell Aerospace $HONA

Key Points

• Covington Investment Advisors initiated a $3.87 million position in Honeywell Aerospace during the second quarter by purchasing 17,262 shares. Several other investment firms also opened smaller positions.
• Honeywell Aerospace reported quarterly revenue of $4.35 billion, while analysts expect full-year earnings of $7.75 per share. The stock opened at $164.73, with a market capitalization of $52.21 billion and a P/E ratio of 88.09.
• Analyst sentiment is mixed but leans neutral: MarketBeat’s consensus rating is Hold, with an average price target of $224.17, compared with recent targets ranging from $195 to $275.

Covington Investment Advisors Inc. bought a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,262 shares of the company's stock, valued at approximately $3,865,000.

A number of other hedge funds have also recently bought and sold shares of HONA. Bell Investment Advisors Inc bought a new stake in Honeywell Aerospace in the second quarter worth about $29,000. Strategic Wealth Advisors LLC acquired a new stake in Honeywell Aerospace in the 2nd quarter valued at about $29,000. Meeder Asset Management Inc. bought a new position in shares of Honeywell Aerospace during the 2nd quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Honeywell Aerospace during the 2nd quarter valued at about $40,000. Finally, Gables Capital Management Inc. acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $47,000.

Honeywell Aerospace Stock Performance

NASDAQ HONA opened at $164.73 on Monday. Honeywell Aerospace has a 1 year low of $150.03 and a 1 year high of $297.50. The stock has a market cap of $52.21 billion and a price-to-earnings ratio of 88.09.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last announced 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. On average, sell-side analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on HONA shares. TD Cowen assumed coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They issued a "hold" rating and a $250.00 target price on the stock. Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a report on Monday, August 10th. Zacks Research upgraded shares of Honeywell Aerospace to a "hold" rating in a research report on Wednesday, July 1st. UBS Group dropped their price target on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. Finally, Argus started coverage on Honeywell Aerospace in a research report on Thursday, July 9th. They set a "buy" rating and a $275.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Honeywell Aerospace currently has a consensus rating of "Hold" and an average target price of $224.17.

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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