NewEdge Advisors LLC Invests $42.07 Million in Honeywell Aerospace $HONA

Key Points

• NewEdge Advisors acquired 190,322 shares of Honeywell Aerospace during the second quarter, valued at approximately $42.07 million and representing about 0.06% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $224.17; recent targets range from $205 to $275.
• HONA opened at $151.58, near its 52-week low of $150.03, with a market capitalization of $48.04 billion and a price-to-earnings ratio of 81.06.

NewEdge Advisors LLC acquired a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 190,322 shares of the company's stock, valued at approximately $42,074,000. NewEdge Advisors LLC owned about 0.06% of Honeywell Aerospace as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in HONA. Ameliora Wealth Management Ltd. purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter worth approximately $25,000. Leo H. Evart Inc. purchased a new position in shares of Honeywell Aerospace in the 2nd quarter valued at $26,000. Outlook Capital Management LLC acquired a new stake in Honeywell Aerospace during the 2nd quarter worth $26,000. Bell Investment Advisors Inc acquired a new stake in Honeywell Aerospace during the 2nd quarter worth $29,000. Finally, Meeder Asset Management Inc. purchased a new stake in Honeywell Aerospace in the second quarter valued at $29,000.

Analysts Set New Price Targets

Several equities analysts have issued reports on HONA shares. 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 report on Thursday, August 6th. JPMorgan Chase & Co. assumed coverage on Honeywell Aerospace in a report on Friday, July 10th. They issued a "neutral" rating and a $255.00 target price for the company. Argus assumed coverage on Honeywell Aerospace in a research report on Thursday, July 9th. They issued a "buy" rating and a $275.00 target price for the company. Morgan Stanley upgraded Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price target on the stock in a research note on Wednesday, August 19th. Finally, Royal Bank Of Canada cut 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $224.17.

Honeywell Aerospace Stock Performance

NASDAQ HONA opened at $151.58 on Thursday. The stock has a market capitalization of $48.04 billion and a price-to-earnings ratio of 81.06. Honeywell Aerospace has a 52-week low of $150.03 and a 52-week high of $297.50. The business's 50-day moving average is $188.25.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last posted its quarterly earnings data 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, equities analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current year.

Honeywell Aerospace Company Profile

Honeywell Aerospace is an aerospace technology company that develops and supplies systems, components and services for commercial aviation, business and general aviation, defense and space markets. Its portfolio includes aircraft engines, auxiliary power units, avionics, flight controls, navigation and communication systems, thermal management equipment, wheels and brakes, and other propulsion and safety technologies.

The company serves aircraft manufacturers, airlines, business aviation operators, military customers and aftermarket service providers around the world.

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