Monaco Asset Management SAM Invests $4.48 Million in Honeywell Aerospace $HONA

Key Points

• Monaco Asset Management SAM bought 20,000 Honeywell Aerospace shares worth approximately $4.48 million in the second quarter, making HONA its 18th-largest holding and about 0.4% of its portfolio. Several other institutional investors also initiated positions.
• Analyst sentiment is largely neutral: one analyst rates HONA a Strong Buy, four rate it Buy, and ten rate it Hold. The consensus rating is Hold, with an average price target of $224.17.
• HONA opened at $161.56, near its 52-week low of $150.03 and well below its $297.50 high. Honeywell Aerospace reported $4.35 billion in quarterly revenue, while analysts expect fiscal-year EPS of $7.75.

Monaco Asset Management SAM acquired a new position 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 firm acquired 20,000 shares of the company's stock, valued at approximately $4,478,000. Honeywell Aerospace comprises about 0.4% of Monaco Asset Management SAM's investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in HONA. SCS Capital Management LLC purchased a new position in Honeywell Aerospace during the second quarter worth about $1,821,000. SFE Investment Counsel acquired a new stake in Honeywell Aerospace in the 2nd quarter worth about $2,981,000. Oppenheimer Asset Management Inc. purchased a new stake in Honeywell Aerospace in the 2nd quarter valued at about $8,809,000. IMC Chicago LLC purchased a new stake in Honeywell Aerospace in the 2nd quarter valued at about $10,508,000. Finally, Baxter Bros Inc. acquired a new position in shares of Honeywell Aerospace during the 2nd quarter valued at about $4,946,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen started coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a "hold" rating and a $250.00 price objective on the stock. Vertical Research began coverage on shares of Honeywell Aerospace in a research report on Wednesday, July 1st. They set a "hold" rating and a $243.00 price target for the company. Wall Street Zen upgraded shares of Honeywell Aerospace to a "hold" rating in a report on Sunday, July 12th. BMO Capital Markets dropped their price objective on Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating for the company in a report on Monday, August 10th. Finally, Zacks Research upgraded Honeywell Aerospace to a "hold" rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, Honeywell Aerospace currently has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Stock Down 2.9%

Shares of NASDAQ HONA opened at $161.56 on Tuesday. 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 $51.21 billion and a PE ratio of 86.40.

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