Persistent Asset Partners Ltd Makes New Investment in Honeywell Aerospace $HONA

Key Points

• Persistent Asset Partners acquired 15,450 Honeywell Aerospace shares worth approximately $3.4 million in the second quarter, making HONA 1% of the fund’s portfolio and its 20th-largest holding.
• Analyst sentiment remains cautious: HONA has a consensus “Hold” rating and an average price target of $224.17, with several firms recently lowering their targets.
• Honeywell Aerospace shares opened at $161.56, down 2.9%, near the lower end of their 52-week range of $150.03 to $297.50. The company reported quarterly revenue of $4.35 billion, while analysts expect full-year EPS of $7.75.

Persistent Asset Partners Ltd acquired a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 15,450 shares of the company's stock, valued at approximately $3,416,000. Honeywell Aerospace comprises 1.0% of Persistent Asset Partners Ltd's holdings, making the stock its 20th biggest position.

Several other large investors have also modified their holdings of the company. Beverly Hills Private Wealth LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at $281,000. OneDigital Investment Advisors LLC acquired a new stake in Honeywell Aerospace during the 2nd quarter worth $1,341,000. Plato Investment Management Ltd acquired a new stake in Honeywell Aerospace during the 2nd quarter worth $219,000. Bell Investment Advisors Inc purchased a new position in Honeywell Aerospace during the 2nd quarter worth $29,000. Finally, AMG National Trust Bank acquired a new position in Honeywell Aerospace in the second quarter valued at $625,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HONA. Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a research note on Monday, August 10th. Wall Street Zen raised Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. UBS Group decreased their price objective on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. BMO Capital Markets lowered their price objective on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a research report on Monday, August 10th. Finally, Evercore set a $210.00 price target on shares of Honeywell Aerospace in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $224.17.

Honeywell Aerospace Trading Down 2.9%

HONA stock 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 cap of $51.21 billion and a P/E ratio of 86.40.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its earnings results 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 during the quarter. On average, equities analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current 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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