Freestone Grove Partners LP Makes New $5.88 Million Investment in Honeywell Aerospace $HONA

Key Points

• Freestone Grove Partners LP acquired 26,271 Honeywell Aerospace shares worth approximately $5.88 million in the second quarter, joining several other institutional investors that initiated positions.
• Honeywell Aerospace reported quarterly revenue of $4.35 billion, while analysts expect full-year earnings of $7.75 per share. The stock opened at $162.37, with a market capitalization of about $51.46 billion.
• Wall Street’s consensus rating is “Hold,” based on one Strong Buy, five Buy, and nine Hold ratings, with an average price target of $224.17.

Freestone Grove Partners LP acquired a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 26,271 shares of the company's stock, valued at approximately $5,882,000.

Other large investors have also recently added to or reduced their stakes in the company. Caisse de depot et placement du Quebec acquired a new stake in shares of Honeywell Aerospace during the 2nd quarter worth approximately $48,828,000. Gallagher Fiduciary Advisors LLC acquired a new stake in Honeywell Aerospace in the 2nd quarter valued at approximately $246,000. Man Group plc acquired a new position in shares of Honeywell Aerospace during the second quarter valued at $6,127,000. First Bancorp Inc ME bought a new stake in shares of Honeywell Aerospace during the 2nd quarter worth about $276,000. Finally, Polar Asset Management Partners Inc. bought a new stake in Honeywell Aerospace during the second quarter worth approximately $206,000.

Honeywell Aerospace Stock Up 1.0%

HONA opened at $162.37 on Friday. The company has a market capitalization of $51.46 billion and a PE ratio of 86.83. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50. The company has a 50 day simple moving average of $195.14.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HONA shares. Evercore set a $210.00 price target on shares of Honeywell Aerospace in a report on Thursday, August 6th. Wolfe Research initiated coverage on Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating for the company. Vertical Research initiated coverage on shares of Honeywell Aerospace in a research note on Wednesday, July 1st. They set a "hold" rating and a $243.00 target price for the company. Jefferies Financial Group set a $175.00 price target on Honeywell Aerospace in a report on Sunday, August 9th. Finally, Wall Street Zen upgraded shares of Honeywell Aerospace to a "hold" rating in a report on Sunday, July 12th. One equities 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 company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $224.17.

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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