Legal & General Group Plc Buys New Stake in Honeywell Aerospace $HONA

Key Points

• Legal & General Group Plc bought 1.61 million Honeywell Aerospace shares worth approximately $356.4 million, acquiring a 0.51% stake. Several other institutional investors also initiated positions during the quarter.
• Analyst sentiment is mixed but leans positive, with one Strong Buy, five Buy and nine Hold ratings. The consensus rating is Hold, with an average price target of $224.17.
• HONA shares opened at $160.36, near the lower end of their $150.03–$297.50 one-year range. Honeywell Aerospace reported $4.35 billion in quarterly revenue, while analysts expect fiscal-year EPS of $7.75.

Legal & General Group Plc purchased a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,612,255 shares of the company's stock, valued at approximately $356,437,000. Legal & General Group Plc owned 0.51% of Honeywell Aerospace at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HONA. Hardy Reed LLC purchased a new position in Honeywell Aerospace in the second quarter valued at about $1,151,000. Plan Group Financial LLC purchased a new stake in shares of Honeywell Aerospace in the second quarter worth about $270,000. Mill Capital Management LLC purchased a new stake in shares of Honeywell Aerospace in the second quarter worth about $419,000. Bryn Mawr Trust Advisors LLC acquired a new stake in shares of Honeywell Aerospace in the second quarter valued at about $1,301,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Honeywell Aerospace in the second quarter valued at about $8,809,000.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on HONA shares. Melius Research upgraded Honeywell Aerospace to a "strong-buy" rating in a report on Monday, June 29th. BMO Capital Markets lowered their price objective on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. Zacks Research raised shares of Honeywell Aerospace to a "hold" rating in a research report on Wednesday, July 1st. Wolfe Research initiated coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They set a "hold" rating on the stock. Finally, 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 report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Honeywell Aerospace has an average rating of "Hold" and a consensus target price of $224.17.

Honeywell Aerospace Price Performance

Shares of Honeywell Aerospace stock opened at $160.36 on Wednesday. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50. The stock has a market cap of $50.83 billion and a PE ratio of 85.75.

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

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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