HBK Investments L P Makes New Investment in Honeywell Aerospace $HONA

Key Points

• HBK Investments purchased 25,004 shares of Honeywell Aerospace in the second quarter, valued at approximately $5.53 million. Several other institutional investors also initiated positions.
• Honeywell Aerospace shares rose 3.6% to $164.18, giving the company a market capitalization of about $52.04 billion; the stock remains well below its 52-week high of $297.50.
• Analyst sentiment is mixed, with five Buy, nine Hold, and two Sell ratings. The consensus rating is Hold, with an average price target of $221.54 after several analysts reduced their targets.

HBK Investments L P purchased a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,004 shares of the company's stock, valued at approximately $5,528,000.

Several other large investors have also modified their holdings of HONA. Ameliora Wealth Management Ltd. purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $25,000. Leo H. Evart Inc. purchased a new stake in Honeywell Aerospace in the 2nd quarter valued at approximately $26,000. Outlook Capital Management LLC acquired a new stake in Honeywell Aerospace during the 2nd quarter valued at $26,000. Cherry Tree Wealth Management LLC acquired a new stake in Honeywell Aerospace during the 2nd quarter valued at $28,000. Finally, Meeder Asset Management Inc. acquired a new stake in Honeywell Aerospace during the 2nd quarter valued at $29,000.

Honeywell Aerospace Trading Up 3.6%

Shares of HONA stock traded up $5.69 during mid-day trading on Wednesday, hitting $164.18. 4,605,544 shares of the company's stock were exchanged, compared to its average volume of 3,620,009. The stock has a market capitalization of $52.04 billion and a PE ratio of 87.80. Honeywell Aerospace has a fifty-two week low of $149.19 and a fifty-two week high of $297.50. The company has a 50-day simple moving average of $181.54.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on HONA shares. Royal Bank Of Canada cut their price target on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. TD Cowen started coverage on Honeywell Aerospace in a research note on Monday, June 29th. They set a "hold" rating and a $250.00 price objective on the stock. Wolfe Research began coverage on Honeywell Aerospace in a research note on Monday, June 29th. They set a "hold" rating on the stock. Wall Street Zen upgraded Honeywell Aerospace to a "hold" rating in a research report on Sunday, July 12th. Finally, BMO Capital Markets cut their target price on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating for the company in a research note on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $221.54.

Honeywell Aerospace Profile

Honeywell Aerospace is an aerospace technology company that develops and supplies systems, components and services for commercial aviation, business and general aviation, defense and space markets. Its portfolio includes aircraft engines, auxiliary power units, avionics, flight controls, navigation and communication systems, thermal management equipment, wheels and brakes, and other propulsion and safety technologies.

The company serves aircraft manufacturers, airlines, business aviation operators, military customers and aftermarket service providers around the world.

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