The Manufacturers Life Insurance Company Invests $35.71 Million in Honeywell Aerospace $HONA

Key Points

• The Manufacturers Life Insurance Company acquired 161,528 Honeywell Aerospace shares worth approximately $35.71 million, representing about 0.05% of the company. Several other institutional investors also initiated positions during the second quarter.
• Honeywell Aerospace reported quarterly revenue of $4.35 billion, while analysts expect full-year earnings of $7.75 per share. The stock opened at $164.01, with a market capitalization of about $51.98 billion.
• Analyst sentiment is mixed, with one Strong Buy, five Buy, and nine Hold ratings; the overall consensus is Hold, with an average price target of $224.17.

The Manufacturers Life Insurance Company bought a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 161,528 shares of the company's stock, valued at approximately $35,711,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Honeywell Aerospace as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Kelly Lawrence W & Associates Inc. CA acquired a new position in Honeywell Aerospace during the 2nd quarter worth approximately $152,000. Van Hulzen Asset Management LLC purchased a new position in Honeywell Aerospace in the 2nd quarter worth approximately $2,103,000. Palliser Capital UK Ltd acquired a new stake in Honeywell Aerospace in the second quarter valued at approximately $5,438,000. Paradigm Capital Management LLC NV acquired a new stake in Honeywell Aerospace in the second quarter valued at approximately $395,000. Finally, Peak Asset Management LLC purchased a new stake in shares of Honeywell Aerospace during the second quarter valued at approximately $226,000.

Honeywell Aerospace Stock Performance

HONA stock opened at $164.01 on Thursday. The firm has a market cap of $51.98 billion and a price-to-earnings ratio of 87.71. Honeywell Aerospace has a 12-month low of $150.03 and a 12-month high of $297.50. The firm's 50 day moving average price is $196.77.

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 for the quarter. On average, equities research analysts forecast that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. BMO Capital Markets reduced 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 report on Monday, August 10th. Vertical Research initiated coverage on shares of Honeywell Aerospace in a report on Wednesday, July 1st. They set a "hold" rating and a $243.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Honeywell Aerospace in a research note on Friday, July 10th. They set a "neutral" rating and a $255.00 price target on the stock. Jefferies Financial Group set a $175.00 price objective on shares of Honeywell Aerospace in a research report on Sunday, August 9th. Finally, Zacks Research upgraded Honeywell Aerospace to a "hold" rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Company 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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