Empowered Funds LLC Takes $9.66 Million Position in Honeywell Aerospace $HONA

Key Points

• Empowered Funds LLC purchased 43,149 Honeywell Aerospace shares during the second quarter, establishing a position valued at approximately $9.66 million. Several other investment firms also initiated smaller positions.
• Honeywell Aerospace reported quarterly revenue of $4.35 billion and earnings of $6.34 million, while analysts expect full-year EPS of 7.75. The stock opened at $162.37, with a market capitalization of $51.46 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $224.17 after several firms lowered their targets, though some maintain Buy or Strong Buy ratings.

Empowered Funds LLC bought a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,149 shares of the company's stock, valued at approximately $9,661,000.

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

Honeywell Aerospace Stock Performance

NASDAQ:HONA opened at $162.37 on Friday. The firm has a market cap of $51.46 billion and a PE ratio of 86.83. Honeywell Aerospace has a fifty-two week low of $150.03 and a fifty-two week high of $297.50. The stock's fifty day moving average is $195.14.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last posted 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. On average, analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HONA shares. BNP Paribas Exane decreased their price objective on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada dropped their price target on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. BMO Capital Markets reduced their price objective on Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating for the company in a research note on Monday, August 10th. Argus began coverage on Honeywell Aerospace in a report on Thursday, July 9th. They issued a "buy" rating and a $275.00 price objective for the company. Finally, Melius Research upgraded shares of Honeywell Aerospace to a "strong-buy" rating in a research report on Monday, June 29th. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $224.17.

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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