Delta Asset Management LLC TN Buys New Stake in Honeywell Aerospace $HONA

Key Points

• Delta Asset Management LLC TN acquired 99,383 shares of Honeywell Aerospace in the second quarter, worth approximately $21.97 million and representing 1.9% of its portfolio.
• Honeywell Aerospace shares opened at $162.37, near the lower end of their 52-week range of $150.03 to $297.50. The company has a market capitalization of approximately $51.46 billion and a P/E ratio of 86.83.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $224.17; Morgan Stanley upgraded the shares to “Overweight,” while BNP Paribas Exane cut its target to $210.

Delta Asset Management LLC TN purchased a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 99,383 shares of the company's stock, valued at approximately $21,970,000. Honeywell Aerospace makes up 1.9% of Delta Asset Management LLC TN's investment portfolio, making the stock its 16th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new stake in Honeywell Aerospace during the second quarter valued at approximately $29,000. Strategic Wealth Advisors LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $29,000. Meeder Asset Management Inc. bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $40,000. Finally, Gables Capital Management Inc. acquired a new stake in Honeywell Aerospace in the 2nd quarter valued at $47,000.

Honeywell Aerospace Stock Performance

NASDAQ:HONA opened at $162.37 on Friday. The stock's fifty day moving average price is $195.14. Honeywell Aerospace has a 52-week low of $150.03 and a 52-week high of $297.50. The firm has a market cap of $51.46 billion and a P/E ratio of 86.83.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last announced its quarterly earnings data 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. Analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley upgraded Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price target on the stock in a research report on Wednesday, August 19th. TD Cowen assumed coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a "hold" rating and a $250.00 price objective for the company. Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a research note on Monday, August 10th. Wall Street Zen raised Honeywell Aerospace to a "hold" rating in a report on Sunday, July 12th. Finally, BNP Paribas Exane decreased their price target on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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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