Perigon Wealth Management LLC Makes New $3.42 Million Investment in Honeywell Aerospace $HONA

Key Points

• Perigon Wealth Management initiated a $3.42 million position in Honeywell Aerospace during the second quarter, joining several other institutional investors that also established stakes.
• Honeywell Aerospace shares opened at $161.56, down 2.9%, with a $51.21 billion market capitalization and a price-to-earnings ratio of 86.40. The company reported $4.35 billion in quarterly revenue, while analysts expect $7.75 in full-year EPS.
• Analyst sentiment is broadly cautious: the stock has an average “Hold” rating and a consensus price target of $224.17, despite individual targets ranging from $209 to $243.

Perigon Wealth Management LLC purchased a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 15,253 shares of the company's stock, valued at approximately $3,415,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $644,412,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Honeywell Aerospace in the second quarter worth $205,658,000. Trust Co. of Vermont bought a new position in Honeywell Aerospace in the second quarter worth $20,428,000. CORDA Investment Management LLC. bought a new position in Honeywell Aerospace in the second quarter worth $11,607,000. Finally, IMC Chicago LLC purchased a new position in Honeywell Aerospace during the second quarter valued at $10,508,000.

Honeywell Aerospace Stock Down 2.9%

Shares of HONA opened at $161.56 on Tuesday. The company has a market cap of $51.21 billion and a P/E ratio of 86.40. Honeywell Aerospace has a twelve month low of $150.03 and a twelve 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 business had revenue of $4.35 billion during the quarter. On average, sell-side analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HONA shares. Wall Street Zen raised shares of Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. Evercore set a $210.00 target price on shares of Honeywell Aerospace in a report on Thursday, August 6th. BNP Paribas Exane dropped their price target 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. BMO Capital Markets reduced their price objective on Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. Finally, Vertical Research started coverage on Honeywell Aerospace in a research note on Wednesday, July 1st. They issued a "hold" rating and a $243.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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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