Persistent Asset Partners Ltd Invests $3.46 Million in Honeywell Aerospace $HONA

Key Points

• Persistent Asset Partners purchased 15,450 Honeywell Aerospace shares worth approximately $3.46 million in the second quarter, making HONA 1% of its portfolio and its 19th-largest holding. Several other institutional investors also initiated positions.
• Analyst sentiment is cautious: HONA has an overall “Hold” rating, with an average price target of $224.17. Recent target cuts from BNP Paribas Exane and UBS contrast with Argus’s $275 “Buy” target.
• HONA opened at $161.56, near its 52-week low of $150.03 and well below its $297.50 high. Honeywell Aerospace reported quarterly revenue of $4.35 billion, while analysts expect full-year EPS of $7.75.

Persistent Asset Partners Ltd bought a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,450 shares of the company's stock, valued at approximately $3,459,000. Honeywell Aerospace comprises 1.0% of Persistent Asset Partners Ltd's holdings, making the stock its 19th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SCS Capital Management LLC bought a new stake in shares of Honeywell Aerospace in the second quarter worth $1,821,000. SFE Investment Counsel bought a new position in Honeywell Aerospace in the second quarter valued at about $2,981,000. Oppenheimer Asset Management Inc. purchased a new position in Honeywell Aerospace in the second quarter worth about $8,809,000. IMC Chicago LLC purchased a new position in Honeywell Aerospace in the second quarter worth about $10,508,000. Finally, Baxter Bros Inc. bought a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at about $4,946,000.

Analyst Ratings Changes

HONA has been the subject of several research reports. Wolfe Research began coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They set a "hold" rating for the company. BNP Paribas Exane cut their target price on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. Argus started coverage on shares of Honeywell Aerospace in a report on Thursday, July 9th. They set a "buy" rating and a $275.00 target price for the company. Wall Street Zen upgraded shares of Honeywell Aerospace to a "hold" rating in a research report on Sunday, July 12th. Finally, UBS Group dropped their price target on shares of Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. One equities research 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 Stock Performance

NASDAQ HONA opened at $161.56 on Tuesday. Honeywell Aerospace has a 52 week low of $150.03 and a 52 week high of $297.50. The stock has a market capitalization of $51.21 billion and a PE ratio of 86.40.

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 (EPS) for the quarter. The company had revenue of $4.35 billion for the quarter. On average, equities analysts predict that Honeywell Aerospace will post 7.75 EPS for the current fiscal 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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