Honeywell Aerospace $HONA Stock Sold by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management cut its Honeywell Aerospace stake by 84.5% in the third quarter, selling 251,221 shares and retaining 46,016 shares valued at approximately $7.13 million.
• Several major institutions, including BlackRock, State Street, Wellington Management, Bank of America, and Bank of New York Mellon, initiated positions in Honeywell Aerospace during the second quarter.
• HONA shares rose 0.8% to $155.85, while analysts maintained a consensus “Hold” rating with an average price target of $219.29.

Ferguson Wellman Capital Management Inc. trimmed its stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) by 84.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,016 shares of the company's stock after selling 251,221 shares during the period. Ferguson Wellman Capital Management Inc.'s holdings in Honeywell Aerospace were worth $7,131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at $5,253,341,000. State Street Corp bought a new stake in Honeywell Aerospace during the second quarter worth about $2,945,044,000. Wellington Management Group LLP purchased a new position in shares of Honeywell Aerospace in the 2nd quarter worth about $1,705,882,000. Bank of America Corp DE bought a new position in shares of Honeywell Aerospace during the 2nd quarter valued at about $1,034,187,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Honeywell Aerospace during the 2nd quarter valued at about $644,412,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Argus started coverage on shares of Honeywell Aerospace in a research report on Thursday, July 9th. They set a "buy" rating and a $275.00 price target on the stock. Melius Research set a $190.00 price objective on shares of Honeywell Aerospace in a research note on Monday, September 14th. Evercore set a $210.00 target price on shares of Honeywell Aerospace in a report on Thursday, August 6th. Morgan Stanley upgraded shares of Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 target price on the stock in a research report on Wednesday, August 19th. Finally, Vertical Research initiated coverage on shares of Honeywell Aerospace in a research note on Wednesday, July 1st. They issued a "hold" rating and a $243.00 price target for the company. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $219.29.

Honeywell Aerospace Trading Up 0.8%

Shares of Honeywell Aerospace stock traded up $1.23 during trading on Monday, reaching $155.85. 783,993 shares of the stock were exchanged, compared to its average volume of 3,664,739. The firm has a market cap of $49.40 billion and a price-to-earnings ratio of 83.38. Honeywell Aerospace has a 1 year low of $149.19 and a 1 year high of $297.50. The stock's fifty day moving average is $168.57.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released its quarterly 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 for the quarter. On average, analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Honeywell Aerospace Company Profile

Honeywell Aerospace is an aerospace and defense technology company that develops systems and equipment for commercial aircraft, business and general aviation, military platforms, and spacecraft. Its portfolio includes aircraft engines and propulsion systems, auxiliary power units, avionics, flight controls, environmental control systems, electrical power systems, landing systems, communications technology, and aircraft safety products.

The company also provides software, connected-aircraft technologies, maintenance, repair and overhaul services, spare parts, upgrades, and other aftermarket support.

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