Korea Investment CORP Takes Position in Honeywell Aerospace $HONA

Key Points

• Korea Investment CORP acquired 181,150 Honeywell Aerospace shares worth approximately $40.05 million during the second quarter, representing a 0.06% stake.
• Several other institutional investors also initiated positions, including Oppenheimer Asset Management, which purchased shares valued at approximately $8.81 million.
• Honeywell Aerospace opened at $164.73, below the analyst consensus price target of $224.17. Despite Morgan Stanley upgrading the stock to “overweight,” the overall analyst consensus remains “Hold.”

Korea Investment CORP acquired a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 181,150 shares of the company's stock, valued at approximately $40,049,000. Korea Investment CORP owned 0.06% of Honeywell Aerospace as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hardy Reed LLC purchased a new position in shares of Honeywell Aerospace in the second quarter worth approximately $1,151,000. Plan Group Financial LLC purchased a new stake in Honeywell Aerospace during the second quarter valued at approximately $270,000. Mill Capital Management LLC bought a new position in Honeywell Aerospace in the second quarter worth approximately $419,000. Bryn Mawr Trust Advisors LLC bought a new position in Honeywell Aerospace in the second quarter worth approximately $1,301,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Honeywell Aerospace in the second quarter worth approximately $8,809,000.

Honeywell Aerospace Price Performance

HONA opened at $164.73 on Friday. The company has a market capitalization of $52.21 billion and a price-to-earnings ratio of 88.09. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last announced its quarterly earnings data on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The firm had revenue of $4.35 billion for the quarter. Equities research analysts anticipate that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HONA shares. TD Cowen began coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They set a "hold" rating and a $250.00 price objective for the company. Royal Bank Of Canada decreased their target price on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Vertical Research initiated 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. BNP Paribas Exane lowered their target price on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Finally, Morgan Stanley raised Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price target for the company in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $224.17.

Honeywell Aerospace 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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