German American Bancorp Inc. Invests $3.59 Million in Honeywell Aerospace $HONA

Key Points

• German American Bancorp acquired 16,026 Honeywell Aerospace shares during the second quarter, investing approximately $3.59 million. Several other institutional investors also initiated positions.
• Honeywell Aerospace shares opened at $166.36, with a market capitalization of $52.73 billion and a price-to-earnings ratio of 88.96. The company reported $4.35 billion in quarterly revenue, while analysts expect full-year EPS of $7.75.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $224.17; recent targets range from $243 to $255, while RBC lowered its target to $250.

German American Bancorp Inc. bought a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,026 shares of the company's stock, valued at approximately $3,588,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at about $67,000. Kelleher Financial Advisors acquired a new position in Honeywell Aerospace during the second quarter worth approximately $78,000. J.Safra Asset Management Corp acquired a new position in Honeywell Aerospace during the second quarter worth approximately $124,000. One Wealth Advisors LLC purchased a new stake in Honeywell Aerospace in the second quarter valued at approximately $210,000. Finally, Bridgewater Advisors Inc. purchased a new stake in Honeywell Aerospace in the second quarter valued at approximately $236,000.

Honeywell Aerospace Price Performance

Shares of HONA opened at $166.36 on Monday. Honeywell Aerospace has a 12-month low of $150.03 and a 12-month high of $297.50. The stock has a market cap of $52.73 billion and a price-to-earnings ratio of 88.96.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HONA shares. Royal Bank Of Canada lowered their target price on shares of Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. assumed coverage on shares of Honeywell Aerospace in a research report on Friday, July 10th. They issued a "neutral" rating and a $255.00 price target for the company. Vertical Research started coverage on shares of Honeywell Aerospace in a research note on Wednesday, July 1st. They set a "hold" rating and a $243.00 price target for the company. Melius Research raised shares of Honeywell Aerospace to a "strong-buy" rating in a research report on Monday, June 29th. Finally, Wolfe Research initiated coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Honeywell Aerospace presently has a consensus 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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