Ferguson Wellman Capital Management Inc. Makes New $65.71 Million Investment in Honeywell Aerospace $HONA

Key Points

• Ferguson Wellman Capital Management acquired 297,237 Honeywell Aerospace shares worth approximately $65.7 million, representing about 0.09% of the company. Several other institutional investors also initiated positions during the second quarter.
• Honeywell Aerospace shares opened at $162.37, with a market capitalization of approximately $51.46 billion and a price-to-earnings ratio of 86.83. The company reported $4.35 billion in quarterly revenue, while analysts expect full-year earnings per share of $7.75.
• Analyst sentiment remains cautious: HONA has an average rating of “Hold” and an average price target of $224.17, despite price targets ranging from $210 to $275.

Ferguson Wellman Capital Management Inc. acquired a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 297,237 shares of the company's stock, valued at approximately $65,713,000. Ferguson Wellman Capital Management Inc. owned approximately 0.09% of Honeywell Aerospace as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in HONA. Grandfield & Dodd LLC bought a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at approximately $759,000. SCS Capital Management LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $1,821,000. SFE Investment Counsel acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $2,981,000. MidFirst Bank bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $5,608,000. Finally, IMC Chicago LLC bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $10,508,000.

Honeywell Aerospace Trading Up 1.0%

Shares of Honeywell Aerospace stock opened at $162.37 on Friday. Honeywell Aerospace has a 12 month low of $150.03 and a 12 month high of $297.50. The business's fifty day moving average is $195.14. The firm has a market capitalization of $51.46 billion and a PE ratio of 86.83.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released its earnings results on Monday, June 15th. The company reported $6,340,000.00 earnings per share for the quarter. The company had revenue of $4.35 billion during the quarter. As a group, research analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on HONA. Wall Street Zen upgraded Honeywell Aerospace to a "hold" rating in a research report on Sunday, July 12th. UBS Group cut their price objective on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating for the company in a report on Thursday, August 6th. TD Cowen initiated coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating and a $250.00 target price on the stock. Argus began coverage on shares of Honeywell Aerospace in a report on Thursday, July 9th. They issued a "buy" rating and a $275.00 target price on the stock. Finally, BNP Paribas Exane lowered their target price on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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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