Man Group plc Invests $10.73 Million in Honeywell Aerospace $HONA

Key Points

• Man Group initiated a $10.73 million position in Honeywell Aerospace during the second quarter by purchasing 47,915 shares. Several other institutional investors also opened new positions, indicating growing institutional interest.
• Analyst sentiment is mixed: the stock has a consensus rating of “Hold” and an average price target of $224.17, although recent target reductions range from $195 to $250.
• Honeywell Aerospace shares opened at $162.37, near their one-year low of $150.03 and well below the $297.50 high. The company reported $4.35 billion in quarterly revenue, while analysts expect full-year earnings of $7.75 per share.

Man Group plc bought a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 47,915 shares of the company's stock, valued at approximately $10,728,000.

A number of other institutional investors have also recently made changes to their positions in HONA. Grandfield & Dodd LLC acquired a new stake in Honeywell Aerospace in the 2nd quarter valued at $759,000. SCS Capital Management LLC acquired a new position in shares of Honeywell Aerospace during the 2nd quarter worth about $1,821,000. SFE Investment Counsel acquired a new position in shares of Honeywell Aerospace during the 2nd quarter worth about $2,981,000. MidFirst Bank bought a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $5,608,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $8,809,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Argus began coverage on Honeywell Aerospace in a report on Thursday, July 9th. They set a "buy" rating and a $275.00 target price on the stock. Wells Fargo & Company set a $195.00 price target on Honeywell Aerospace in a research note on Monday, August 10th. Royal Bank Of Canada lowered their price target on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. BMO Capital Markets lowered their price target on Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a research report on Monday, August 10th. Finally, BNP Paribas Exane dropped their price objective on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $224.17.

Honeywell Aerospace Trading Up 1.0%

Shares of NASDAQ HONA opened at $162.37 on Friday. The firm has a fifty day moving average price of $195.14. Honeywell Aerospace has a one year low of $150.03 and a one year high of $297.50. The firm has a market cap of $51.46 billion and a price-to-earnings ratio of 86.83.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last posted 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 for the quarter. As a group, research analysts expect that Honeywell Aerospace will post 7.75 EPS 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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