Public Employees Retirement System of Ohio Takes $26.79 Million Position in Honeywell Aerospace $HONA

Key Points

• Public Employees Retirement System of Ohio purchased 121,153 Honeywell Aerospace shares during the second quarter, establishing a position worth approximately $26.79 million. Several other institutional investors also initiated stakes.
• Analysts have a broadly cautious outlook: HONA carries a consensus “Hold” rating and a $224.17 price target, though targets range from $175 to $250 and BMO Capital Markets maintained an “Outperform” rating after lowering its target.
• Honeywell Aerospace shares opened at $162.37, with a $51.46 billion market capitalization, a price-to-earnings ratio of 86.83, and a 52-week range of $150.03 to $297.50. The company recently reported $4.35 billion in quarterly revenue.

Public Employees Retirement System of Ohio 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 13F filing with the SEC. The institutional investor purchased 121,153 shares of the company's stock, valued at approximately $26,785,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. MASTERINVEST Kapitalanlage GmbH purchased a new position in Honeywell Aerospace during the second quarter worth $267,000. Triton Financial Group Inc purchased a new stake in shares of Honeywell Aerospace in the second quarter valued at $609,000. Redwood Investment Management LLC bought a new stake in shares of Honeywell Aerospace in the 2nd quarter worth about $756,000. Parvin Asset Management LLC bought a new stake in shares of Honeywell Aerospace in the 2nd quarter worth about $136,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth about $295,000.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HONA. BMO Capital Markets cut their price target on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a report on Monday, August 10th. Jefferies Financial Group set a $175.00 target price on Honeywell Aerospace in a research report on Sunday, August 9th. Evercore set a $210.00 price target on Honeywell Aerospace in a report on Thursday, August 6th. Wall Street Zen upgraded Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. Finally, TD Cowen initiated coverage on Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating and a $250.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $224.17.

Honeywell Aerospace Trading Up 1.0%

Shares of NASDAQ:HONA opened at $162.37 on Friday. The stock has a market capitalization of $51.46 billion and a price-to-earnings ratio of 86.83. The stock's 50 day moving average is $195.14. Honeywell Aerospace has a one year low of $150.03 and a one year high of $297.50.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last announced its quarterly earnings results on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The firm had revenue of $4.35 billion for the quarter. On average, sell-side analysts expect that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

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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