Northwestern Mutual Wealth Management Co. Buys New Stake in Honeywell Aerospace $HONA

Key Points

• Northwestern Mutual Wealth Management acquired 45,116 Honeywell Aerospace shares in the second quarter, worth approximately $9.97 million. Several other institutional investors also initiated positions, including Oppenheimer Asset Management, which purchased about $8.81 million in shares.
• Honeywell Aerospace shares opened at $152.55, near their one-year low of $150.03, with a market capitalization of $48.35 billion and a price-to-earnings ratio of 81.58.
• Analysts have a consensus “Hold” rating on HONA, with an average price target of $224.17. Recent coverage includes neutral or hold ratings from TD Cowen, JPMorgan, BNP Paribas Exane, and Zacks Research.

Northwestern Mutual Wealth Management Co. acquired a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,116 shares of the company's stock, valued at approximately $9,974,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hardy Reed LLC acquired a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at about $1,151,000. Plan Group Financial LLC purchased a new stake in shares of Honeywell Aerospace during the second quarter worth $270,000. Mill Capital Management LLC purchased a new stake in Honeywell Aerospace during the 2nd quarter valued at about $419,000. Bryn Mawr Trust Advisors LLC purchased a new stake in shares of Honeywell Aerospace in the second quarter valued at approximately $1,301,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Honeywell Aerospace in the 2nd quarter valued at $8,809,000.

Honeywell Aerospace Stock Down 1.1%

Shares of NASDAQ:HONA opened at $152.55 on Thursday. Honeywell Aerospace has a one year low of $150.03 and a one year high of $297.50. The company has a 50-day simple moving average of $192.52. The stock has a market capitalization of $48.35 billion and a PE ratio of 81.58.

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 company had revenue of $4.35 billion during the quarter. On average, equities research analysts forecast that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HONA. TD Cowen began coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a "hold" rating and a $250.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Honeywell Aerospace in a research report on Friday, July 10th. They issued a "neutral" rating and a $255.00 target price for the company. BNP Paribas Exane cut their price objective on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Evercore set a $210.00 target price on shares of Honeywell Aerospace in a research note on Thursday, August 6th. Finally, Zacks Research raised Honeywell Aerospace to a "hold" rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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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