Empirical Finance LLC Acquires New Holdings in Honeywell Aerospace $HONA

Key Points

• Empirical Finance initiated a Honeywell Aerospace position in the second quarter, purchasing 11,511 shares valued at approximately $2.55 million. Several other institutional investors also established new stakes, including Nykredit and Allianz Asset Management.
• Analyst sentiment is mixed, with one Strong Buy, five Buy, and nine Hold ratings; the consensus rating is Hold with a target price of $224.17.
• Honeywell Aerospace shares opened at $155.42, down 3.5%, near their one-year low of $150.03. The company reported $4.35 billion in quarterly revenue, while analysts expect full-year EPS of $7.75.

Empirical Finance LLC bought a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,511 shares of the company's stock, valued at approximately $2,545,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HONA. Nykredit A S purchased a new stake in Honeywell Aerospace during the 2nd quarter valued at $16,634,000. Parkside Financial Bank & Trust purchased a new position in shares of Honeywell Aerospace in the 2nd quarter worth $448,000. MLG Wealth Management DBA Pine Grove Financial Group purchased a new position in shares of Honeywell Aerospace in the 2nd quarter worth $426,000. Allianz Asset Management GmbH bought a new stake in shares of Honeywell Aerospace in the second quarter worth $9,121,000. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Honeywell Aerospace in the second quarter worth $1,819,000.

Analyst Ratings Changes

A number of research firms have weighed in on HONA. Evercore set a $210.00 target price on Honeywell Aerospace in a report on Thursday, August 6th. Wells Fargo & Company set a $195.00 price target on Honeywell Aerospace in a research note on Monday, August 10th. TD Cowen began coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They set a "hold" rating and a $250.00 price target for the company. Argus initiated coverage on shares of Honeywell Aerospace in a research note on Thursday, July 9th. They issued a "buy" rating and a $275.00 price objective on the stock. Finally, Vertical Research started coverage on shares of Honeywell Aerospace in a report on Wednesday, July 1st. They issued a "hold" rating and a $243.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Honeywell Aerospace has an average rating of "Hold" and a consensus target price of $224.17.

Honeywell Aerospace Trading Down 3.5%

Shares of Honeywell Aerospace stock opened at $155.42 on Wednesday. The company has a market cap of $49.26 billion and a PE ratio of 83.11. The business has a fifty day moving average of $189.76. 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 released its quarterly earnings results on Monday, June 15th. The company reported $6,340,000.00 earnings per share (EPS) for the quarter. The company had revenue of $4.35 billion for the quarter. As a group, equities research analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Honeywell Aerospace 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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