Palliser Capital UK Ltd Buys New Shares in Honeywell Aerospace $HONA

Key Points

• Palliser Capital UK Ltd. acquired 46,910 Honeywell Aerospace shares worth approximately $10.4 million, making HONA its third-largest holding at 5.6% of the portfolio.
• Several other institutional investors also initiated positions in the second quarter, including Oppenheimer Asset Management, which purchased about $8.8 million of shares.
• HONA was trading at $161.20, down 2.1%, while analysts maintained a consensus “Hold” rating with an average price target of $224.17.

Palliser Capital UK Ltd purchased a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,910 shares of the company's stock, valued at approximately $10,371,000. Honeywell Aerospace comprises about 5.6% of Palliser Capital UK Ltd's investment portfolio, making the stock its 3rd largest holding.

Other hedge funds have also recently bought and sold shares of the company. Hardy Reed LLC acquired a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $1,151,000. Plan Group Financial LLC bought a new stake in shares of Honeywell Aerospace during the 2nd quarter worth approximately $270,000. Mill Capital Management LLC acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at approximately $419,000. Bryn Mawr Trust Advisors LLC bought a new position in shares of Honeywell Aerospace in the second quarter valued at $1,301,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Honeywell Aerospace in the second quarter valued at $8,809,000.

Honeywell Aerospace Trading Down 2.1%

HONA stock opened at $161.20 on Tuesday. The company has a market cap of $51.09 billion and a P/E ratio of 86.20. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HONA. BNP Paribas Exane dropped their price target on shares of 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 price objective on shares of Honeywell Aerospace in a research report on Thursday, August 6th. Melius Research upgraded shares of Honeywell Aerospace to a "strong-buy" rating in a research note on Monday, June 29th. JPMorgan Chase & Co. began coverage on shares of Honeywell Aerospace in a report on Friday, July 10th. They issued a "neutral" rating and a $255.00 target price on the stock. Finally, Wolfe Research began coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating for the company. 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 company. According to MarketBeat.com, Honeywell Aerospace has a consensus rating of "Hold" and an average target price 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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