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

Key Points

• Royal London Asset Management acquired 140,649 Honeywell Aerospace shares in the second quarter, valued at approximately $31.1 million.
• Several major institutions, including BlackRock, Wellington Management, Bank of America, and Bank of New York Mellon, also initiated significant positions in HONA during the quarter.
• HONA opened at $162.37, while analysts maintain an average “Hold” rating and a consensus price target of $224.17.

Royal London Asset Management Ltd. bought a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 140,649 shares of the company's stock, valued at approximately $31,095,000.

Several other institutional investors and hedge funds have also bought and sold shares of HONA. BlackRock Inc. purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at $5,253,341,000. Wellington Management Group LLP acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter worth $1,705,882,000. Bank of America Corp DE purchased a new position in Honeywell Aerospace during the 2nd quarter worth $1,034,187,000. Bank of New York Mellon Corp purchased a new position in Honeywell Aerospace during the 2nd quarter worth $644,412,000. Finally, Legal & General Group Plc purchased a new position in Honeywell Aerospace during the 2nd quarter worth $370,665,000.

Honeywell Aerospace Stock Up 1.0%

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

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 firm had revenue of $4.35 billion during the quarter. On average, equities analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HONA shares. Melius Research upgraded Honeywell Aerospace to a "strong-buy" rating in a research note on Monday, June 29th. Zacks Research upgraded Honeywell Aerospace to a "hold" rating in a research note on Wednesday, July 1st. Jefferies Financial Group set a $175.00 price objective on shares of Honeywell Aerospace in a research report on Sunday, August 9th. UBS Group lowered their target price on shares of Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Finally, BNP Paribas Exane dropped their target price on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. 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 stock. According to MarketBeat, Honeywell Aerospace has an average rating of "Hold" and an average target price 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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