Wellington Management Group LLP Takes Position in Honeywell Aerospace $HONA

Key Points

• Wellington Management Group LLP acquired 7.72 million Honeywell Aerospace shares in the second quarter, valued at approximately $1.71 billion and representing a 2.43% stake.
• Analyst sentiment is largely cautious, with a consensus “Hold” rating and an average price target of $224.17, although targets range from $195 to $250.
• HONA shares opened at $162.37, down substantially from their 52-week high of $297.50; the company reported $4.35 billion in quarterly revenue and analysts expect $7.75 in current-year EPS.

Wellington Management Group LLP acquired a new position in shares of Honeywell Aerospace (NASDAQ:HONA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,716,131 shares of the company's stock, valued at approximately $1,705,882,000. Wellington Management Group LLP owned 2.43% of Honeywell Aerospace at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of Honeywell Aerospace in the second quarter worth $29,000. Bell Investment Advisors Inc acquired a new position in Honeywell Aerospace in the second quarter valued at about $29,000. Strategic Wealth Advisors LLC bought a new stake in Honeywell Aerospace during the second quarter worth about $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Honeywell Aerospace during the second quarter worth about $40,000. Finally, Gables Capital Management Inc. acquired a new stake in Honeywell Aerospace during the second quarter worth about $47,000.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a report on Monday, August 10th. TD Cowen assumed coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a "hold" rating and a $250.00 price target for the company. BMO Capital Markets reduced their price target 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 started coverage on shares of Honeywell Aerospace in a research note on Wednesday, July 1st. They issued a "hold" rating and a $243.00 price objective on the stock. Finally, BNP Paribas Exane decreased their price objective on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. One investment 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. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $224.17.

Honeywell Aerospace Trading Up 1.0%

Shares of HONA stock opened at $162.37 on Friday. The stock's fifty day simple moving average is $195.14. The company has a market cap of $51.46 billion and a P/E ratio of 86.83. Honeywell Aerospace has a twelve month low of $150.03 and a twelve month high of $297.50.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released its earnings results 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 during the quarter. On average, analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current year.

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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