State Street Corp Takes Position in Honeywell Aerospace $HONA

Key Points

• State Street acquired a major Honeywell Aerospace stake in the second quarter, purchasing 13.32 million shares valued at approximately $2.95 billion, or about 4.2% of the company.
• Analyst sentiment is mixed: six analysts rate HONA a Buy, nine a Hold and two a Sell. The consensus rating is Hold, with a price target of $219.29.
• HONA opened at $167.32, below its 50-day moving average of $176.39, while shares have traded between $149.19 and $297.50 over the past year. The company reported $4.35 billion in quarterly revenue and has a market capitalization of approximately $53.03 billion.

State Street Corp purchased a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,321,170 shares of the company's stock, valued at approximately $2,945,044,000. State Street Corp owned approximately 4.20% of Honeywell Aerospace at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HONA. Ameliora Wealth Management Ltd. acquired a new stake in shares of Honeywell Aerospace during the second quarter worth about $25,000. Leo H. Evart Inc. acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at about $26,000. Outlook Capital Management LLC acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at about $26,000. Security National Bank of SO Dak purchased a new position in Honeywell Aerospace during the 2nd quarter worth approximately $27,000. Finally, Cherry Tree Wealth Management LLC purchased a new position in Honeywell Aerospace during the 2nd quarter worth approximately $28,000.

Analyst Ratings Changes

HONA has been the subject of a number of research reports. Wall Street Zen upgraded Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. Zacks Research cut shares of Honeywell Aerospace from a "hold" rating to a "strong sell" rating in a report on Monday, September 14th. Wells Fargo & Company set a $195.00 price target on shares of Honeywell Aerospace in a research report on Monday, August 10th. Evercore set a $210.00 price target on shares of Honeywell Aerospace in a research note on Thursday, August 6th. Finally, Melius Research set a $190.00 price objective on shares of Honeywell Aerospace in a research report on Monday, September 14th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $219.29.

Honeywell Aerospace Stock Performance

Shares of Honeywell Aerospace stock opened at $167.32 on Wednesday. The firm has a 50-day moving average of $176.39. Honeywell Aerospace has a 12-month low of $149.19 and a 12-month high of $297.50. The stock has a market capitalization of $53.03 billion and a PE ratio of 89.48.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its quarterly earnings data on Monday, June 15th. The company reported $6,340,000.00 earnings per share for the quarter. The business had revenue of $4.35 billion for the quarter. On average, research analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Honeywell Aerospace Company Profile

Honeywell Aerospace is an aerospace technology company that develops and supplies systems, components and services for commercial aviation, business and general aviation, defense and space markets. Its portfolio includes aircraft engines, auxiliary power units, avionics, flight controls, navigation and communication systems, thermal management equipment, wheels and brakes, and other propulsion and safety technologies.

The company serves aircraft manufacturers, airlines, business aviation operators, military customers and aftermarket service providers around the world.

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