SVB Wealth LLC Makes New $2.56 Million Investment in Honeywell Aerospace $HONA

Key Points

• SVB Wealth LLC acquired 11,589 Honeywell Aerospace shares during the second quarter, valued at approximately $2.56 million. Several major institutional investors, including BlackRock and Wellington Management, also initiated positions.
• Analyst sentiment is mixed, with one Strong Buy, five Buy, and nine Hold ratings. The stock carries an average rating of Hold and an average price target of $224.17.
• Honeywell Aerospace shares opened at $155.42, near their 52-week low of $150.03 and well below the $297.50 high. The company reported quarterly revenue of $4.35 billion, while analysts project full-year EPS of $7.75.

SVB Wealth LLC acquired a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,589 shares of the company's stock, valued at approximately $2,562,000.

Other institutional investors and hedge funds have also modified their holdings of the company. California State Teachers Retirement System bought a new position in Honeywell Aerospace in the second quarter worth $24,053,526,000. BlackRock Inc. acquired a new stake in Honeywell Aerospace during the second quarter worth $5,253,341,000. Wellington Management Group LLP bought a new stake in Honeywell Aerospace in the 2nd quarter valued at $1,705,882,000. Bank of America Corp DE bought a new stake in Honeywell Aerospace in the 2nd quarter valued at $1,034,187,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at $644,412,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Argus assumed coverage on shares of Honeywell Aerospace in a report on Thursday, July 9th. They set a "buy" rating and a $275.00 price objective for the company. BMO Capital Markets lowered their target price on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a research note on Monday, August 10th. TD Cowen started coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They issued a "hold" rating and a $250.00 price target for the company. Wall Street Zen upgraded shares of Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. Finally, Wells Fargo & Company set a $195.00 price objective on Honeywell Aerospace in a report on Monday, August 10th. One equities 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. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Stock Performance

Shares of NASDAQ HONA opened at $155.42 on Wednesday. Honeywell Aerospace has a 52-week low of $150.03 and a 52-week high of $297.50. The firm's fifty day moving average is $189.76. The company has a market capitalization of $49.26 billion and a PE ratio of 83.11.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last announced its earnings results 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 for the quarter. Equities analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current year.

Honeywell Aerospace Profile

Honeywell Aerospace is an aerospace technology company that develops and supplies products and systems for commercial aviation, business and general aviation, defense, and space applications. Its portfolio includes aircraft engines, auxiliary power units, avionics, flight controls, navigation and communication systems, propulsion technologies, environmental-control and thermal-management systems, and connected aircraft software.

The company serves aircraft manufacturers, airlines, operators, maintenance providers, and government customers worldwide.

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