Delta Asset Management LLC TN Invests $22.31 Million in Honeywell Aerospace $HONA

Key Points

• Delta Asset Management LLC TN acquired 99,643 Honeywell Aerospace shares worth approximately $22.31 million, making HONA about 1.9% of its portfolio and its 15th-largest holding.
• Several other institutional investors also initiated positions during the second quarter, including IMC Chicago LLC with a stake valued at approximately $10.51 million.
• HONA opened at $162.37, well below its 50-day average of $195.14. Analysts maintain a consensus “Hold” rating with an average price target of $224.17, although Morgan Stanley upgraded the stock to “Overweight” with a $205 target.

Delta Asset Management LLC TN purchased a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 99,643 shares of the company's stock, valued at approximately $22,313,000. Honeywell Aerospace comprises approximately 1.9% of Delta Asset Management LLC TN's holdings, making the stock its 15th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in HONA. Grandfield & Dodd LLC acquired a new stake in Honeywell Aerospace during the 2nd quarter worth approximately $759,000. SCS Capital Management LLC acquired a new position in shares of Honeywell Aerospace in the second quarter valued at approximately $1,821,000. SFE Investment Counsel acquired a new position in shares of Honeywell Aerospace in the second quarter valued at approximately $2,981,000. MidFirst Bank purchased a new stake in shares of Honeywell Aerospace during the second quarter worth approximately $5,608,000. Finally, IMC Chicago LLC purchased a new stake in shares of Honeywell Aerospace during the second quarter worth approximately $10,508,000.

Honeywell Aerospace Price Performance

Shares of HONA stock opened at $162.37 on Friday. The business's fifty day simple moving average is $195.14. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50. The firm has a market capitalization of $51.46 billion and a price-to-earnings ratio of 86.83.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released its quarterly earnings data 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, equities research analysts anticipate that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Analysts Set New Price Targets

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