Mitsubishi UFJ Asset Management Co. Ltd. Makes New $208.20 Million Investment in Honeywell Aerospace $HONA

Key Points

• Mitsubishi UFJ Asset Management acquired 929,982 Honeywell Aerospace shares worth approximately $208.2 million, representing about 0.29% of the company. Several other institutional investors also initiated positions during the second quarter.
• Analyst sentiment is largely neutral: Honeywell Aerospace has an average “Hold” rating from MarketBeat-tracked analysts and an average price target of $224.17.
• HONA opened at $161.56, with a market capitalization of $51.21 billion and a 52-week trading range of $150.03 to $297.50. The company reported $4.35 billion in quarterly revenue, while analysts expect full-year EPS of $7.75.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 929,982 shares of the company's stock, valued at approximately $208,204,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.29% of Honeywell Aerospace as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Monaco Asset Management SAM acquired a new position in Honeywell Aerospace in the 2nd quarter worth about $4,478,000. Persistent Asset Partners Ltd acquired a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $3,416,000. Beverly Hills Private Wealth LLC purchased a new position in shares of Honeywell Aerospace during the 2nd quarter valued at approximately $281,000. OneDigital Investment Advisors LLC acquired a new stake in Honeywell Aerospace in the 2nd quarter valued at $1,341,000. Finally, Plato Investment Management Ltd purchased a new stake in Honeywell Aerospace in the 2nd quarter worth $219,000.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Vertical Research began coverage on shares of Honeywell Aerospace in a report on Wednesday, July 1st. They set a "hold" rating and a $243.00 price objective on the stock. Wells Fargo & Company set a $195.00 price target on shares of Honeywell Aerospace in a research report on Monday, August 10th. JPMorgan Chase & Co. initiated coverage on Honeywell Aerospace in a report on Friday, July 10th. They issued a "neutral" rating and a $255.00 price objective on the stock. TD Cowen assumed coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating and a $250.00 target price on the stock. Finally, Wolfe Research assumed coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They set a "hold" rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Honeywell Aerospace presently has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Price Performance

NASDAQ HONA opened at $161.56 on Tuesday. The firm has a market cap of $51.21 billion and a PE ratio of 86.40. Honeywell Aerospace has a twelve month low of $150.03 and a twelve month high of $297.50.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its quarterly earnings data on Monday, June 15th. The company reported $6,340,000.00 earnings per share (EPS) for the quarter. The company had revenue of $4.35 billion during the quarter. As a group, equities analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current 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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