Deutsche Bank AG Purchases New Position in Honeywell Aerospace $HONA

Key Points

• Deutsche Bank initiated a $152.9 million position in Honeywell Aerospace during the second quarter, buying 683,041 shares and gaining approximately 0.22% ownership. Several other major institutional investors also established new positions.
• Analysts maintain a consensus “Hold” rating, with one Strong Buy, five Buy, and nine Hold ratings; the average price target is $224.17, though some firms recently reduced their targets.
• Honeywell Aerospace shares opened at $170.76, with a market capitalization of $54.12 billion and a 12-month trading range of $150.03 to $297.50. The company reported $4.35 billion in quarterly revenue, while analysts forecast annual EPS of $7.75.

Deutsche Bank AG purchased a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 683,041 shares of the company's stock, valued at approximately $152,933,000. Deutsche Bank AG owned approximately 0.22% of Honeywell Aerospace at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in Honeywell Aerospace during the second quarter valued at approximately $644,412,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $205,658,000. Trust Co. of Vermont purchased a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $20,428,000. CORDA Investment Management LLC. bought a new position in shares of Honeywell Aerospace during the 2nd quarter valued at approximately $11,607,000. Finally, IMC Chicago LLC bought a new position in shares of Honeywell Aerospace during the 2nd quarter valued at approximately $10,508,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group set a $175.00 price target on Honeywell Aerospace in a research report on Sunday, August 9th. BNP Paribas Exane cut their price objective on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Wall Street Zen raised shares of Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. Evercore set a $210.00 target price on shares of Honeywell Aerospace in a report on Thursday, August 6th. Finally, Wolfe Research began coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They set a "hold" rating for the company. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $224.17.

Honeywell Aerospace Stock Up 6.2%

Shares of HONA opened at $170.76 on Thursday. The firm has a market cap of $54.12 billion and a PE ratio of 91.31. Honeywell Aerospace has a 12-month low of $150.03 and a 12-month high of $297.50.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last posted its quarterly earnings results 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. Analysts predict that Honeywell Aerospace will post 7.75 EPS 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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