Legal & General Group Plc Acquires New Position in Honeywell Aerospace $HONA

Key Points

• Legal & General Group acquired 1.66 million Honeywell Aerospace shares worth approximately $370.7 million, giving it a 0.52% stake. Several other institutional investors also initiated positions during the second quarter.
• Honeywell Aerospace shares opened at $160.36, down 0.5%, with a market capitalization of about $50.8 billion and a 52-week range of $150.03 to $297.50.
• Analysts maintain a consensus “Hold” rating, with an average price target of $224.17; quarterly revenue was $4.35 billion, while full-year EPS is forecast at $7.75.

Legal & General Group Plc acquired a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,655,495 shares of the company's stock, valued at approximately $370,665,000. Legal & General Group Plc owned approximately 0.52% of Honeywell Aerospace as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HONA. Grandfield & Dodd LLC bought a new stake in Honeywell Aerospace during the second quarter valued at $759,000. SCS Capital Management LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $1,821,000. SFE Investment Counsel acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $2,981,000. MidFirst Bank bought a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at about $5,608,000. Finally, IMC Chicago LLC acquired a new stake in Honeywell Aerospace during the second quarter worth about $10,508,000.

Honeywell Aerospace Stock Down 0.5%

Honeywell Aerospace stock opened at $160.36 on Wednesday. Honeywell Aerospace has a 52-week low of $150.03 and a 52-week high of $297.50. The stock has a market cap of $50.83 billion and a price-to-earnings ratio of 85.75.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HONA shares. Evercore set a $210.00 target price on shares of Honeywell Aerospace in a report on Thursday, August 6th. Jefferies Financial Group set a $175.00 price target on Honeywell Aerospace in a research report on Sunday, August 9th. Zacks Research raised Honeywell Aerospace to a "hold" rating in a report on Wednesday, July 1st. Morgan Stanley upgraded Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price objective for the company in a research report on Wednesday, August 19th. Finally, Vertical Research assumed coverage on Honeywell Aerospace in a research note on Wednesday, July 1st. They set a "hold" rating and a $243.00 price objective for the company. One investment 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. Based on data from MarketBeat.com, Honeywell Aerospace currently has an average rating of "Hold" and an average 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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