William Blair Investment Management LLC Buys New Stake in Honeywell Aerospace $HONA

Key Points

• William Blair Investment Management purchased 7,291 Honeywell Aerospace shares in the second quarter, valued at approximately $1.6 million. Several major institutions, including BlackRock and Bank of New York Mellon, also opened new positions.
• Honeywell Aerospace reported quarterly revenue of $4.35 billion, while analysts expect full-year earnings of $7.75 per share. The stock opened at $164.73, with a market capitalization of $52.21 billion and a P/E ratio of 88.09.
• Analyst sentiment is mixed: the stock has a consensus rating of “Hold” and an average price target of $224.17, despite one Strong Buy rating and several Buy ratings.

William Blair Investment Management LLC purchased a new position in Honeywell Aerospace (NASDAQ:HONA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,291 shares of the company's stock, valued at approximately $1,612,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Honeywell Aerospace during the second quarter valued at approximately $5,253,341,000. Bank of New York Mellon Corp acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $644,412,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $205,658,000. Deutsche Bank AG bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $152,933,000. Finally, Madison Asset Management LLC acquired a new stake in Honeywell Aerospace in the 2nd quarter valued at $49,743,000.

Honeywell Aerospace Stock 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 company has a market cap of $52.21 billion and a P/E ratio of 88.09.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued 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 during the quarter. Analysts forecast that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

HONA has been the topic of a number of analyst reports. Melius Research upgraded Honeywell Aerospace to a "strong-buy" rating in a research report on Monday, June 29th. TD Cowen started coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating and a $250.00 target price on the stock. Royal Bank Of Canada reduced their target price on shares of Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Wolfe Research initiated coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They issued a "hold" rating on the stock. Finally, Zacks Research upgraded shares of Honeywell Aerospace to a "hold" rating in a research report on Wednesday, July 1st. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $224.17.

Honeywell Aerospace 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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