The Manufacturers Life Insurance Company Acquires Shares of 161,528 Honeywell Aerospace $HONA

Key Points

• The Manufacturers Life Insurance Company acquired 161,528 Honeywell Aerospace shares in the second quarter, worth approximately $36.2 million and representing a 0.05% stake.
• Several other institutional investors also initiated positions, including Oppenheimer Asset Management, which purchased approximately $8.8 million in shares.
• Honeywell Aerospace shares were trading at $164.01, with a market capitalization of $52.0 billion. Analysts maintain a consensus “Hold” rating with an average price target of $224.17, despite Morgan Stanley upgrading the stock to “Overweight.”

The Manufacturers Life Insurance Company bought a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 161,528 shares of the company's stock, valued at approximately $36,166,000. The Manufacturers Life Insurance Company owned 0.05% of Honeywell Aerospace as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of HONA. Hardy Reed LLC purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth about $1,151,000. Plan Group Financial LLC purchased a new stake in Honeywell Aerospace in the 2nd quarter worth about $270,000. Mill Capital Management LLC purchased a new stake in shares of Honeywell Aerospace in the second quarter worth approximately $419,000. Bryn Mawr Trust Advisors LLC purchased a new stake in shares of Honeywell Aerospace in the second quarter worth approximately $1,301,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Honeywell Aerospace during the 2nd quarter worth approximately $8,809,000.

Honeywell Aerospace Trading Up 2.3%

NASDAQ:HONA opened at $164.01 on Thursday. Honeywell Aerospace has a 1-year low of $150.03 and a 1-year high of $297.50. The business has a 50-day simple moving average of $196.77. The stock has a market capitalization of $51.98 billion and a price-to-earnings ratio of 87.71.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last posted its earnings results on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The business had revenue of $4.35 billion for the quarter. As a group, sell-side analysts predict that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley upgraded Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 target price for the company in a research report on Wednesday, August 19th. TD Cowen assumed coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating and a $250.00 price target on the stock. Evercore set a $210.00 price objective on shares of Honeywell Aerospace in a research report on Thursday, August 6th. Wolfe Research initiated coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They set a "hold" rating on the stock. Finally, Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.

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