OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in Honeywell Aerospace $HONA

Key Points

• Oversea-Chinese Banking Corp acquired 6,500 Honeywell Aerospace shares worth approximately $1.46 million in the second quarter, joining several other institutions that initiated positions.
• Honeywell Aerospace shares opened at $164.73, down 0.7%, with a $52.21 billion market capitalization and a 12-month trading range of $150.03 to $297.50.
• Analysts expect fiscal-year EPS of $7.75, but maintain a consensus “Hold” rating with a $224.17 price target; ratings include one Strong Buy, five Buys, and nine Holds.

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,500 shares of the company's stock, valued at approximately $1,455,000.

Several other institutional investors have also recently modified their holdings of HONA. Bell Investment Advisors Inc purchased a new stake in Honeywell Aerospace in the second quarter valued at approximately $29,000. Strategic Wealth Advisors LLC acquired a new stake in Honeywell Aerospace during the 2nd quarter valued at approximately $29,000. Meeder Asset Management Inc. acquired a new stake in Honeywell Aerospace during the 2nd quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at $40,000. Finally, Gables Capital Management Inc. purchased a new position in shares of Honeywell Aerospace during the second quarter worth $47,000.

Honeywell Aerospace Stock Down 0.7%

Shares of Honeywell Aerospace stock opened at $164.73 on Friday. Honeywell Aerospace has a 12 month low of $150.03 and a 12 month high of $297.50. The company has a market cap of $52.21 billion and a price-to-earnings ratio of 88.09.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last announced its quarterly earnings data 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. As a group, equities research analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wolfe Research initiated coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They issued a "hold" rating on the stock. Vertical Research began coverage on Honeywell Aerospace in a report on Wednesday, July 1st. They issued a "hold" rating and a $243.00 price objective for the company. Evercore set a $210.00 target price on Honeywell Aerospace in a research note on Thursday, August 6th. Melius Research raised Honeywell Aerospace to a "strong-buy" rating in a report on Monday, June 29th. Finally, Jefferies Financial Group set a $175.00 price target on Honeywell Aerospace in a research report on Sunday, August 9th. One 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 company. According to MarketBeat.com, Honeywell Aerospace currently has a consensus rating of "Hold" and a consensus price target of $224.17.

About Honeywell Aerospace

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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