NewEdge Wealth LLC Invests $4.66 Million in Honeywell Aerospace $HONA

Key Points

• NewEdge Wealth acquired 21,077 shares of Honeywell Aerospace in the second quarter, worth approximately $4.66 million. Several other institutional investors also initiated positions.
• Honeywell Aerospace reported quarterly revenue of $4.35 billion, while analysts forecast full-year earnings of $7.75 per share. The stock was trading at $170.76, with a market capitalization of $54.12 billion.
• Analyst sentiment remains cautious: Honeywell Aerospace has a consensus “Hold” rating and an average price target of $224.17, despite one Strong Buy and five Buy ratings.

NewEdge Wealth LLC purchased a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 21,077 shares of the company's stock, valued at approximately $4,660,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in Honeywell Aerospace during the second quarter worth about $29,000. Bell Investment Advisors Inc purchased a new position in Honeywell Aerospace in the second quarter valued at about $29,000. Strategic Wealth Advisors LLC purchased a new position in Honeywell Aerospace in the second quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at approximately $40,000. Finally, Gables Capital Management Inc. acquired a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at approximately $47,000.

Honeywell Aerospace Trading Up 6.2%

HONA opened at $170.76 on Thursday. The firm has a market cap of $54.12 billion and a P/E ratio of 91.31. Honeywell Aerospace has a 52 week low of $150.03 and a 52 week high of $297.50.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last announced 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 during the quarter. Equities analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HONA has been the topic of several research analyst reports. BMO Capital Markets decreased their price target 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. Wolfe Research assumed coverage on Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating for the company. TD Cowen initiated coverage on Honeywell Aerospace in a report on Monday, June 29th. They set a "hold" rating and a $250.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Honeywell Aerospace in a research report on Friday, July 10th. They set a "neutral" rating and a $255.00 target price on the stock. Finally, UBS Group lowered their target price on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. One equities research 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 stock. Based on data from MarketBeat, Honeywell Aerospace currently has a consensus rating of "Hold" and a consensus price target of $224.17.

Honeywell Aerospace 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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