Danica Pension Livsforsikringsaktieselskab Makes New $21.40 Million Investment in Honeywell Aerospace $HONA

Key Points

• Danica Pension invested approximately $21.4 million in Honeywell Aerospace during the second quarter, purchasing 96,805 shares. Several other major institutions, including BlackRock and Bank of New York Mellon, also initiated positions.
• Analyst sentiment is mixed, with one Strong Buy, four Buy, and ten Hold ratings. The consensus rating is Hold, with an average price target of $224.17, though several firms recently lowered their targets.
• Honeywell Aerospace shares opened at $160.76, near the lower end of their 52-week range of $150.03 to $297.50. The company reported quarterly revenue of $4.35 billion, while analysts expect full-year earnings per share of $7.75.

Danica Pension Livsforsikringsaktieselskab purchased a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 96,805 shares of the company's stock, valued at approximately $21,402,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at $5,253,341,000. Bank of New York Mellon Corp acquired a new stake in Honeywell Aerospace in the second quarter worth $644,412,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Honeywell Aerospace in the second quarter worth $205,658,000. Deutsche Bank AG bought a new stake in Honeywell Aerospace in the second quarter valued at $152,933,000. Finally, Trust Co. of Vermont bought a new stake in Honeywell Aerospace in the second quarter valued at $20,428,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HONA shares. Melius Research raised shares of Honeywell Aerospace to a "strong-buy" rating in a research report on Monday, June 29th. UBS Group decreased their target price on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. Wall Street Zen raised Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. BNP Paribas Exane reduced their price objective on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada decreased their price objective 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 research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Trading Down 0.5%

Shares of NASDAQ HONA opened at $160.76 on Wednesday. The stock has a market capitalization of $50.95 billion and a P/E ratio of 85.97. Honeywell Aerospace has a fifty-two week low of $150.03 and a fifty-two week high of $297.50.

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