Royal London Asset Management Ltd. Buys New Shares in Honeywell Aerospace $HONA

Key Points

• Royal London Asset Management initiated a Honeywell Aerospace position by purchasing 140,649 shares worth approximately $31.5 million in the second quarter. Several other institutional investors also reported new stakes.
• HONA shares opened at $162.37, near the lower end of their 52-week range of $150.03 to $297.50. The company has a market capitalization of about $51.5 billion and a high price-to-earnings ratio of 86.83.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $224.17; recent targets range from $175 to $243, while Morgan Stanley upgraded the stock to “Overweight.”

Royal London Asset Management Ltd. bought a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 140,649 shares of the company's stock, valued at approximately $31,491,000.

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

Honeywell Aerospace Stock Up 1.0%

HONA stock opened at $162.37 on Friday. The firm has a 50 day moving average of $195.14. Honeywell Aerospace has a twelve month low of $150.03 and a twelve month high of $297.50. The company has a market capitalization of $51.46 billion and a price-to-earnings ratio of 86.83.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on HONA shares. Wells Fargo & Company set a $195.00 price target on Honeywell Aerospace in a research note on Monday, August 10th. Vertical Research started coverage on Honeywell Aerospace in a report on Wednesday, July 1st. They issued a "hold" rating and a $243.00 target price on the stock. Melius Research upgraded shares of Honeywell Aerospace to a "strong-buy" rating in a research note on Monday, June 29th. Jefferies Financial Group set a $175.00 price objective on shares of Honeywell Aerospace in a report on Sunday, August 9th. Finally, Morgan Stanley upgraded shares of Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price objective for the company in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently 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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