IMC Chicago LLC Buys New Shares in Honeywell Aerospace $HONA

Key Points

• IMC Chicago LLC initiated a Honeywell Aerospace position in the second quarter, purchasing 47,532 shares valued at approximately $10.5 million. Several other institutional investors also established new stakes.
• Honeywell Aerospace shares opened at $166.36, versus a 52-week range of $150.03 to $297.50, with a market capitalization of roughly $52.7 billion and a price-to-earnings ratio of 88.96.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $224.17, despite one Strong Buy and four Buy ratings among the analysts tracked.

IMC Chicago LLC bought a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 47,532 shares of the company's stock, valued at approximately $10,508,000.

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

Honeywell Aerospace Stock Performance

HONA stock opened at $166.36 on Monday. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50. The company has a market capitalization of $52.73 billion and a PE ratio of 88.96.

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 company had revenue of $4.35 billion during the quarter. Analysts forecast that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HONA. Wolfe Research started coverage on Honeywell Aerospace in a research report on Monday, June 29th. They set a "hold" rating on the stock. BMO Capital Markets reduced their target price on Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. Morgan Stanley set a $205.00 price target on shares of Honeywell Aerospace in a research note on Friday, August 7th. TD Cowen assumed coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They issued a "hold" rating and a $250.00 price target on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Honeywell Aerospace in a research note on Friday, July 10th. They issued a "neutral" rating and a $255.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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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