Tiptree Advisors LLC Makes New Investment in Honeywell Aerospace $HONA

Key Points

• Tiptree Advisors acquired 29,825 Honeywell Aerospace shares worth approximately $6.6 million, making HONA its 12th-largest holding and representing 4.1% of its portfolio. Several major institutions, including BlackRock and Bank of New York Mellon, also initiated positions during the second quarter.
• Analyst sentiment is mixed: one analyst rates HONA a Strong Buy, five rate it Buy, and nine rate it Hold. The consensus rating is Hold, with an average price target of $224.17.
• HONA recently traded at $164.01, up 2.3%, with a market capitalization of about $52 billion. Honeywell Aerospace reported $4.35 billion in quarterly revenue, while analysts expect full-year earnings of $7.75 per share.

Tiptree Advisors LLC purchased a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 29,825 shares of the company's stock, valued at approximately $6,594,000. Honeywell Aerospace comprises approximately 4.1% of Tiptree Advisors LLC's investment portfolio, making the stock its 12th largest holding.

A number of other institutional investors also recently modified their holdings of HONA. BlackRock Inc. bought a new stake in shares of Honeywell Aerospace during the 2nd quarter worth $5,253,341,000. Bank of New York Mellon Corp bought a new position in Honeywell Aerospace in the 2nd quarter worth $644,412,000. Legal & General Group Plc bought a new position in Honeywell Aerospace in the 2nd quarter worth $370,665,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Honeywell Aerospace during the 2nd quarter worth $205,658,000. Finally, Canada Pension Plan Investment Board bought a new stake in Honeywell Aerospace during the second quarter valued at about $174,914,000.

Wall Street Analysts Forecast Growth

HONA has been the topic of several research analyst reports. Melius Research raised Honeywell Aerospace to a "strong-buy" rating in a research report on Monday, June 29th. Argus assumed coverage on Honeywell Aerospace in a report on Thursday, July 9th. They issued a "buy" rating and a $275.00 target price on the stock. Jefferies Financial Group set a $175.00 price target on Honeywell Aerospace in a research report on Sunday, August 9th. UBS Group cut their price target on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating for the company in a report on Thursday, August 6th. Finally, BMO Capital Markets reduced their price objective on Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. One equities 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 company has an average rating of "Hold" and an average price target of $224.17.

Honeywell Aerospace Stock Up 2.3%

Shares of HONA opened at $164.01 on Thursday. Honeywell Aerospace has a 12-month low of $150.03 and a 12-month high of $297.50. The company has a market capitalization of $51.98 billion and a price-to-earnings ratio of 87.71. 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 for the quarter. The firm had revenue of $4.35 billion for the quarter. On average, equities research analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

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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