Meeder Advisory Services Inc. Buys New Stake in Honeywell Aerospace $HONA

Key Points

• Meeder Advisory Services acquired 7,983 Honeywell Aerospace shares in the second quarter, valued at approximately $1.8 million. Other major institutions, including BlackRock and Bank of New York Mellon, also initiated positions.
• Honeywell Aerospace shares opened at $160.76, near the lower end of their $150.03–$297.50 52-week range. The company reported quarterly revenue of $4.35 billion, while analysts expect full-year earnings of $7.75 per share.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $224.17, despite one Strong Buy and four Buy ratings.

Meeder Advisory Services Inc. purchased a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,983 shares of the company's stock, valued at approximately $1,787,000.

Several other institutional investors have also bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Honeywell Aerospace in the 2nd quarter worth $5,253,341,000. Bank of New York Mellon Corp purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at about $644,412,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $205,658,000. Deutsche Bank AG bought a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $152,933,000. Finally, Trust Co. of Vermont purchased a new position in Honeywell Aerospace in the second quarter worth about $20,428,000.

Honeywell Aerospace Stock Down 0.5%

Shares of NASDAQ HONA opened at $160.76 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 capitalization of $50.95 billion and a price-to-earnings ratio of 85.97.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released its 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 for the quarter. On average, sell-side analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HONA shares. BMO Capital Markets reduced their price objective on Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a research note on Monday, August 10th. JPMorgan Chase & Co. initiated coverage on Honeywell Aerospace in a research note on Friday, July 10th. They issued a "neutral" rating and a $255.00 price objective for the company. Wells Fargo & Company set a $195.00 target price on Honeywell Aerospace in a report on Monday, August 10th. Wolfe Research began coverage on Honeywell Aerospace in a report on Monday, June 29th. They set a "hold" rating on the stock. Finally, TD Cowen initiated coverage on Honeywell Aerospace in a research report on Monday, June 29th. They issued a "hold" rating and a $250.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $224.17.

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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