Studio Investment Management LLC Buys Shares of 10,022 Honeywell Aerospace $HONA

Key Points

• Studio Investment Management initiated a Honeywell Aerospace position in the second quarter, purchasing 10,022 shares valued at approximately $2.2 million. Several other institutional investors also established new stakes, including Oppenheimer Asset Management’s roughly $8.8 million position.
• Analyst sentiment is mixed: Morgan Stanley upgraded the stock to overweight and Melius Research issued a strong-buy rating, while the broader consensus remains “Hold” with an average price target of $224.17.
• Honeywell Aerospace shares opened at $161.01, near their 52-week low of $150.03 and well below the $297.50 high. The company reported $4.35 billion in quarterly revenue, and analysts expect $7.75 in earnings per share for the current fiscal year.

Studio Investment Management LLC bought a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,022 shares of the company's stock, valued at approximately $2,216,000.

Other hedge funds also recently made changes to their positions in the company. Hardy Reed LLC acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at approximately $1,151,000. Plan Group Financial LLC acquired a new position in Honeywell Aerospace during the 2nd quarter worth approximately $270,000. Mill Capital Management LLC bought a new position in Honeywell Aerospace in the 2nd quarter valued at approximately $419,000. Bryn Mawr Trust Advisors LLC bought a new position in Honeywell Aerospace in the 2nd quarter valued at approximately $1,301,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Honeywell Aerospace in the second quarter valued at approximately $8,809,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HONA. Zacks Research raised shares of Honeywell Aerospace to a "hold" rating in a research note on Wednesday, July 1st. Melius Research upgraded Honeywell Aerospace to a "strong-buy" rating in a research note on Monday, June 29th. Wells Fargo & Company set a $195.00 price objective on Honeywell Aerospace in a report on Monday, August 10th. Morgan Stanley upgraded Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price objective on the stock in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada lowered their target price on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $224.17.

Honeywell Aerospace Stock Performance

Shares of NASDAQ:HONA opened at $161.01 on Monday. The firm has a market capitalization of $51.03 billion and a price-to-earnings ratio of 86.10. The business's fifty day simple moving average is $191.08. Honeywell Aerospace has a 52 week low of $150.03 and a 52 week high of $297.50.

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 during the quarter. Research analysts anticipate that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source