Van Hulzen Asset Management LLC Invests $2.10 Million in Honeywell Aerospace $HONA

Key Points

• Van Hulzen Asset Management initiated a $2.10 million position in Honeywell Aerospace, purchasing 9,513 shares during the second quarter. Several other major institutions, including BlackRock and Bank of New York Mellon, also established new stakes.
• Honeywell Aerospace shares opened at $161.20, down 2.1%, with a market capitalization of $51.09 billion. The company reported $4.35 billion in quarterly revenue, while analysts expect full-year earnings of $7.75 per share.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $224.17. Recent target changes included RBC lowering its target to $250 and UBS reducing its target to $213.

Van Hulzen Asset Management LLC bought a new stake in Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,513 shares of the company's stock, valued at approximately $2,103,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Honeywell Aerospace during the second quarter worth about $5,253,341,000. Bank of New York Mellon Corp purchased a new stake in Honeywell Aerospace in the 2nd quarter valued at approximately $644,412,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Honeywell Aerospace during the 2nd quarter worth approximately $205,658,000. Deutsche Bank AG acquired a new position in Honeywell Aerospace during the 2nd quarter worth approximately $152,933,000. Finally, Haverford Trust Co purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $98,787,000.

Honeywell Aerospace Stock Down 2.1%

Shares of HONA stock opened at $161.20 on Tuesday. The firm has a market cap of $51.09 billion and a P/E ratio of 86.20. Honeywell Aerospace has a 1 year low of $150.03 and a 1 year high of $297.50.

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 firm had revenue of $4.35 billion for the quarter. As a group, research analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Analysts Set New Price Targets

HONA has been the subject of several recent analyst reports. Royal Bank Of Canada reduced their price target on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Argus began coverage on Honeywell Aerospace in a report on Thursday, July 9th. They set a "buy" rating and a $275.00 price objective on the stock. Zacks Research upgraded Honeywell Aerospace to a "hold" rating in a research report on Wednesday, July 1st. UBS Group reduced their target price 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, Melius Research upgraded shares of Honeywell Aerospace to a "strong-buy" rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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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