Varma Mutual Pension Insurance Co Takes $13.61 Million Position in Honeywell Aerospace $HONA

Key Points

• Varma Mutual Pension Insurance Co. acquired 61,550 Honeywell Aerospace shares worth approximately $13.61 million in the second quarter.
• Several major institutions also initiated positions, led by BlackRock with a stake valued at about $5.25 billion, alongside purchases by Bank of New York Mellon, Mitsubishi UFJ, Deutsche Bank, and Madison Asset Management.
• Honeywell Aerospace shares opened at $164.73, while analysts maintain a consensus “Hold” rating and an average price target of $224.17; Morgan Stanley recently upgraded the stock to “Overweight.”

Varma Mutual Pension Insurance Co bought a new stake in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 61,550 shares of the company's stock, valued at approximately $13,607,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Honeywell Aerospace in the second quarter worth $5,253,341,000. Bank of New York Mellon Corp bought a new position in Honeywell Aerospace during the second quarter valued at $644,412,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Honeywell Aerospace during the second quarter valued at $205,658,000. Deutsche Bank AG bought a new position in Honeywell Aerospace during the second quarter valued at $152,933,000. Finally, Madison Asset Management LLC purchased a new stake in shares of Honeywell Aerospace in the second quarter valued at $49,743,000.

Honeywell Aerospace Price Performance

NASDAQ:HONA opened at $164.73 on Monday. Honeywell Aerospace has a one year low of $150.03 and a one year high of $297.50. The stock has a market capitalization of $52.21 billion and a PE ratio of 88.09.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released its quarterly earnings data on Monday, June 15th. The company reported $6,340,000.00 earnings per share (EPS) for the quarter. The business had revenue of $4.35 billion for the quarter. Research analysts forecast that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HONA. Vertical Research assumed coverage on shares of Honeywell Aerospace in a report on Wednesday, July 1st. They issued a "hold" rating and a $243.00 target price for the company. UBS Group reduced their price objective on shares of Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Wolfe Research started coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating for the company. Zacks Research upgraded Honeywell Aerospace to a "hold" rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley raised Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 target price on the stock in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $224.17.

About Honeywell Aerospace

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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