Emerald Investment Advisers LLC Makes New Investment in Honeywell Aerospace $HONA

Key Points

• Emerald Investment Advisers initiated a Honeywell Aerospace position by purchasing 8,257 shares valued at approximately $1.85 million during the second quarter. Several other investment firms also established new, smaller positions.
• Analyst sentiment is mixed: one analyst rates the stock Strong Buy, five rate it Buy, and nine rate it Hold. The consensus rating is Hold, with an average price target of $224.17, despite recent target reductions from some firms.
• Honeywell Aerospace shares opened at $164.73, near the lower end of their $150.03–$297.50 one-year range. The company reported $4.35 billion in quarterly revenue, while analysts expect full-year EPS of $7.75.

Emerald Investment Advisers LLC purchased a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,257 shares of the company's stock, valued at approximately $1,849,000.

Several other hedge funds also recently modified their holdings of the business. Bell Investment Advisors Inc bought a new stake in shares of Honeywell Aerospace in the second quarter valued at approximately $29,000. Strategic Wealth Advisors LLC bought a new position in Honeywell Aerospace during the second quarter worth $29,000. Meeder Asset Management Inc. bought a new position in Honeywell Aerospace during the second quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Honeywell Aerospace during the 2nd quarter valued at $40,000. Finally, Gables Capital Management Inc. acquired a new position in Honeywell Aerospace during the 2nd quarter valued at $47,000.

Wall Street Analyst Weigh In

HONA has been the subject of a number of research reports. BMO Capital Markets reduced their price target on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating for the company in a report on Monday, August 10th. JPMorgan Chase & Co. began coverage on shares of Honeywell Aerospace in a report on Friday, July 10th. They set a "neutral" rating and a $255.00 price objective on the stock. Argus began coverage on shares of Honeywell Aerospace in a research report on Thursday, July 9th. They set a "buy" rating and a $275.00 price objective for the company. Wolfe Research assumed coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating for the company. Finally, Wells Fargo & Company set a $195.00 target price on Honeywell Aerospace in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Honeywell Aerospace presently has an average rating of "Hold" and an average price target of $224.17.

Honeywell Aerospace Price Performance

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

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its earnings results 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. Equities analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current year.

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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