Elevation Point Wealth Partners LLC Makes New $3.04 Million Investment in Honeywell Aerospace $HONA

Key Points

• Elevation Point Wealth Partners initiated a $3.04 million position in Honeywell Aerospace, purchasing 13,754 shares during the second quarter. Several other major institutional investors, including BlackRock and Bank of New York Mellon, also opened positions.
• Honeywell Aerospace shares opened at $164.73, down 0.7%, with a market capitalization of $52.21 billion and a price-to-earnings ratio of 88.09. The company reported quarterly revenue of $4.35 billion and analysts expect full-year EPS of $7.75.
• Analyst views remain mixed: the stock has a consensus “Hold” rating and an average price target of $224.17, although recent targets range from $175 to $275 and Morgan Stanley upgraded the shares to “overweight.”

Elevation Point Wealth Partners LLC 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 and Exchange Commission. The institutional investor purchased 13,754 shares of the company's stock, valued at approximately $3,041,000.

Several other institutional investors have also recently made changes to their positions in HONA. BlackRock Inc. purchased a new stake in Honeywell Aerospace in the second quarter worth about $5,253,341,000. Bank of New York Mellon Corp purchased a new position in Honeywell Aerospace during the 2nd quarter valued at about $644,412,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Honeywell Aerospace during the 2nd quarter valued at about $205,658,000. Deutsche Bank AG bought a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at about $152,933,000. Finally, Madison Asset Management LLC bought a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at about $49,743,000.

Honeywell Aerospace Trading Down 0.7%

Shares of HONA stock opened at $164.73 on Friday. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50. The firm has a market cap of $52.21 billion and a P/E ratio of 88.09.

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 business had revenue of $4.35 billion for the quarter. On average, equities research analysts forecast that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HONA has been the subject of several research reports. Evercore set a $210.00 price target on shares of Honeywell Aerospace in a research report on Thursday, August 6th. Royal Bank Of Canada reduced their price objective on shares of Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Argus assumed coverage on Honeywell Aerospace in a report on Thursday, July 9th. They set a "buy" rating and a $275.00 target price for 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 report on Wednesday. Finally, Jefferies Financial Group set a $175.00 price objective on Honeywell Aerospace in a research note on Sunday, August 9th. One research 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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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