Edge Wealth Management LLC Acquires New Position in Honeywell Aerospace $HONA

Key Points

• Edge Wealth Management acquired 27,700 shares of Honeywell Aerospace in the second quarter, valued at approximately $6.1 million and representing about 1% of its portfolio. Several other institutional investors also initiated positions.
• Analysts maintain a largely cautious view, with one Strong Buy, five Buy, and nine Hold ratings. The stock has an average rating of Hold and a consensus price target of $224.17.
• Honeywell Aerospace shares fell 3.5% to $155.42, near their 52-week low of $150.03, while the company reported quarterly revenue of $4.35 billion and analysts project full-year earnings of $7.75 per share.

Edge Wealth Management LLC bought a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,700 shares of the company's stock, valued at approximately $6,124,000. Honeywell Aerospace makes up about 1.0% of Edge Wealth Management LLC's holdings, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Hardy Reed LLC purchased a new position in Honeywell Aerospace in the 2nd quarter worth $1,151,000. Plan Group Financial LLC purchased a new position in shares of Honeywell Aerospace in the second quarter worth $270,000. Mill Capital Management LLC purchased a new stake in Honeywell Aerospace during the 2nd quarter valued at $419,000. Bryn Mawr Trust Advisors LLC bought a new position in shares of Honeywell Aerospace during the second quarter valued at about $1,301,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Honeywell Aerospace during the second quarter worth about $8,809,000.

Wall Street Analyst Weigh In

HONA has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Honeywell Aerospace in a report on Friday, July 10th. They issued a "neutral" rating and a $255.00 price target on the stock. Jefferies Financial Group set a $175.00 target price on shares of Honeywell Aerospace in a research report on Sunday, August 9th. Wolfe Research began coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They set a "hold" rating on the stock. Wall Street Zen raised shares of Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. Finally, Evercore set a $210.00 price objective on Honeywell Aerospace in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Honeywell Aerospace currently has an average rating of "Hold" and a consensus target price of $224.17.

Honeywell Aerospace Trading Down 3.5%

NASDAQ HONA traded down $5.59 during trading hours on Tuesday, reaching $155.42. 4,514,827 shares of the company's stock traded hands, compared to its average volume of 3,600,296. Honeywell Aerospace has a 52-week low of $150.03 and a 52-week high of $297.50. The company has a market cap of $49.26 billion and a price-to-earnings ratio of 83.11. The business's 50-day simple moving average is $189.76.

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 for the quarter. The business had revenue of $4.35 billion for the quarter. As a group, research analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal 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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