Kimelman & Baird LLC Takes $14.16 Million Position in Honeywell Aerospace $HONA

Key Points

• Kimelman & Baird LLC acquired 64,069 Honeywell Aerospace shares during the second quarter, valued at approximately $14.16 million. Several other investment firms also initiated positions.
• Analyst sentiment is mixed: Honeywell Aerospace has a consensus “Hold” rating and an average price target of $224.17, despite multiple analysts maintaining Buy or Outperform ratings.
• HONA opened at $162.37, near its 52-week low of $150.03 and well below its $297.50 high. The company reported $4.35 billion in quarterly revenue, while analysts project $7.75 in full-year earnings per share.

Kimelman & Baird LLC bought a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 64,069 shares of the company's stock, valued at approximately $14,164,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in shares of Honeywell Aerospace during the 2nd quarter valued at about $29,000. Bell Investment Advisors Inc acquired a new stake in shares of Honeywell Aerospace in the second quarter worth approximately $29,000. Strategic Wealth Advisors LLC purchased a new stake in Honeywell Aerospace in the second quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Honeywell Aerospace during the second quarter worth approximately $40,000. Finally, Gables Capital Management Inc. acquired a new position in Honeywell Aerospace in the second quarter valued at $47,000.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. BMO Capital Markets cut their price target on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a report on Monday, August 10th. Wolfe Research initiated coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They issued a "hold" rating for the company. Morgan Stanley raised 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 note on Wednesday, August 19th. Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a report on Monday, August 10th. Finally, Royal Bank Of Canada decreased their price target on shares of Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Honeywell Aerospace has a consensus rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Price Performance

HONA opened at $162.37 on Friday. The firm's 50 day moving average price is $195.14. Honeywell Aerospace has a 52-week low of $150.03 and a 52-week high of $297.50. The stock has a market capitalization of $51.46 billion and a price-to-earnings ratio of 86.83.

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

Honeywell Aerospace Company Profile

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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