HighTower Advisors LLC Invests $44.54 Million in Honeywell Aerospace $HONA

Key Points

• HighTower Advisors acquired 201,482 Honeywell Aerospace shares during the second quarter, valued at approximately $44.54 million and representing about 0.06% of the company.
• Several other institutional investors also initiated positions, including Oppenheimer Asset Management with an approximately $8.81 million investment.
• HONA shares opened at $161.01, well below the 50-day moving average of $190.46. Analysts maintain a consensus “Hold” rating with an average price target of $224.17.

HighTower Advisors LLC acquired a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 201,482 shares of the company's stock, valued at approximately $44,544,000. HighTower Advisors LLC owned approximately 0.06% of Honeywell Aerospace at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HONA. Hardy Reed LLC bought a new position in Honeywell Aerospace in the second quarter worth about $1,151,000. Plan Group Financial LLC bought a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at about $270,000. Mill Capital Management LLC purchased a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $419,000. Bryn Mawr Trust Advisors LLC bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $1,301,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $8,809,000.

Honeywell Aerospace Price Performance

Shares of HONA opened at $161.01 on Tuesday. The firm's fifty day moving average is $190.46. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50. The stock has a market capitalization of $51.03 billion and a price-to-earnings ratio of 86.10.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its earnings results 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 during the quarter. On average, equities research analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on HONA. Wolfe Research assumed coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating for the company. UBS Group reduced their price target on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. TD Cowen initiated coverage on Honeywell Aerospace in a research report on Monday, June 29th. They issued a "hold" rating and a $250.00 price objective for the company. Melius Research upgraded Honeywell Aerospace to a "strong-buy" rating in a research note on Monday, June 29th. Finally, Vertical Research began coverage on Honeywell Aerospace in a research report on Wednesday, July 1st. They set a "hold" rating and a $243.00 target price on the stock. One 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 stock. According to MarketBeat, the company presently 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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