NewEdge Wealth LLC Takes $4.70 Million Position in Honeywell Aerospace $HONA

Key Points

• NewEdge Wealth LLC initiated a $4.70 million position in Honeywell Aerospace during the second quarter, purchasing 20,974 shares. Several other institutional investors also established new positions.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $224.17. Targets range from UBS’s revised $213 objective to Argus’s $275 target.
• Honeywell Aerospace shares opened at $170.76, compared with a 12-month 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.

NewEdge Wealth LLC bought a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,974 shares of the company's stock, valued at approximately $4,696,000.

Several other hedge funds also recently bought and sold shares of the company. Grandfield & Dodd LLC bought a new stake in Honeywell Aerospace during the second quarter valued at about $759,000. SCS Capital Management LLC purchased a new position in shares of Honeywell Aerospace in the second quarter valued at about $1,821,000. SFE Investment Counsel purchased a new position in shares of Honeywell Aerospace in the second quarter valued at about $2,981,000. MidFirst Bank bought a new position in shares of Honeywell Aerospace in the second quarter worth about $5,608,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Honeywell Aerospace in the second quarter worth about $8,809,000.

Analyst Upgrades and Downgrades

HONA has been the subject of several research analyst reports. Evercore set a $210.00 target price on Honeywell Aerospace in a research report on Thursday, August 6th. Wolfe Research assumed coverage on Honeywell Aerospace in a report on Monday, June 29th. They issued a "hold" rating on the stock. Argus began coverage on Honeywell Aerospace in a research note on Thursday, July 9th. They issued a "buy" rating and a $275.00 price target for the company. Zacks Research raised shares of Honeywell Aerospace to a "hold" rating in a report on Wednesday, July 1st. Finally, UBS Group reduced their price objective on shares of Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" 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 assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Price Performance

Shares of Honeywell Aerospace stock opened at $170.76 on Thursday. The company has a market cap of $54.12 billion and a P/E ratio of 91.31. Honeywell Aerospace has a 12 month low of $150.03 and a 12 month high of $297.50.

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

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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