Hsbc Holdings PLC Acquires Shares of 707,271 Honeywell Aerospace $HONA

Key Points

• Hsbc Holdings PLC acquired 707,271 Honeywell Aerospace shares worth approximately $157.2 million, giving it a roughly 0.22% stake.
• Several major institutions also initiated positions during the second quarter, led by BlackRock with a stake valued at about $5.25 billion.
• HONA opened at $160.36, well below its 12-month high of $297.50. Analysts hold a consensus “Hold” rating with an average price target of $224.17.

Hsbc Holdings PLC bought a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 707,271 shares of the company's stock, valued at approximately $157,189,000. Hsbc Holdings PLC owned approximately 0.22% of Honeywell Aerospace as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at about $5,253,341,000. Bank of New York Mellon Corp acquired a new stake in shares of Honeywell Aerospace in the second quarter valued at approximately $644,412,000. Legal & General Group Plc purchased a new position in shares of Honeywell Aerospace during the second quarter worth approximately $370,665,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Honeywell Aerospace during the second quarter worth approximately $205,658,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at $174,914,000.

Honeywell Aerospace Price Performance

Shares of HONA stock opened at $160.36 on Wednesday. Honeywell Aerospace has a twelve month low of $150.03 and a twelve month high of $297.50. The stock has a market capitalization of $50.83 billion and a P/E ratio of 85.75.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released 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, analysts expect that Honeywell Aerospace will post 7.75 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Evercore set a $210.00 price objective on shares of Honeywell Aerospace in a research report on Thursday, August 6th. TD Cowen began coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They issued a "hold" rating and a $250.00 price objective for the company. Vertical Research started coverage on Honeywell Aerospace in a research report on Wednesday, July 1st. They issued a "hold" rating and a $243.00 price objective for the company. Melius Research raised shares of Honeywell Aerospace to a "strong-buy" rating in a report on Monday, June 29th. Finally, UBS Group cut their price target on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. One 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's stock. Based on data from MarketBeat.com, the stock 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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