Danica Pension Livsforsikringsaktieselskab Makes New Investment in Honeywell Aerospace $HONA

Key Points

• Danica Pension acquired 96,805 Honeywell Aerospace shares during the second quarter, valued at approximately $21.7 million. Several major institutions, including BlackRock and Bank of New York Mellon, also initiated substantial positions.
• HONA shares opened at $160.76, down 0.5%, with a market capitalization of about $50.95 billion. Honeywell Aerospace reported quarterly revenue of $4.35 billion, while analysts expect approximately $7.75 in annual EPS.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $224.17; recent targets range from $195 to $250.

Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 96,805 shares of the company's stock, valued at approximately $21,675,000.

A number of other large investors also recently made changes to their positions in HONA. BlackRock Inc. purchased a new stake in shares of Honeywell Aerospace in the second quarter worth approximately $5,253,341,000. Bank of New York Mellon Corp acquired a new stake in shares of Honeywell Aerospace during the second quarter worth approximately $644,412,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Honeywell Aerospace during the second quarter valued at approximately $205,658,000. Deutsche Bank AG purchased a new position in Honeywell Aerospace during the second quarter valued at approximately $152,933,000. Finally, Trust Co. of Vermont acquired a new position in Honeywell Aerospace in the 2nd quarter valued at approximately $20,428,000.

Honeywell Aerospace Trading Down 0.5%

Shares of HONA stock opened at $160.76 on Wednesday. Honeywell Aerospace has a twelve month low of $150.03 and a twelve month high of $297.50. The company has a market capitalization of $50.95 billion and a P/E ratio of 85.97.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last announced its 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 for the quarter. On average, research analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current year.

Analysts Set New Price Targets

HONA has been the subject of a number of research analyst reports. TD Cowen began coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They issued a "hold" rating and a $250.00 target price for the company. Morgan Stanley set a $205.00 price target on shares of Honeywell Aerospace in a research note on Friday, August 7th. BNP Paribas Exane cut their price objective on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating for the company in a report on Thursday, August 6th. Wells Fargo & Company set a $195.00 price objective on Honeywell Aerospace in a research report on Monday, August 10th. Finally, Zacks Research upgraded Honeywell Aerospace to a "hold" rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $224.17.

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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