Honeywell Aerospace (NASDAQ:HONA) Trading Down 5.9% Following Weak Earnings

Key Points

• Honeywell Aerospace shares fell 5.9% to $203.64 after the company reported weaker-than-expected quarterly earnings, with approximately 4.26 million shares traded—48% above average volume.
• The company reported quarterly revenue of $4.35 billion and earnings per share of $6.34.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating and a consensus price target of $253.75, despite some firms issuing Buy or Strong Buy ratings.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) traded down 5.9% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $203.64 and last traded at $203.64. Approximately 4,255,228 shares changed hands during trading, an increase of 48% from the average daily volume of 2,871,077 shares. The stock had previously closed at $216.48.

The company reported $6,340,000.00 earnings per share (EPS) for the quarter. The firm had revenue of $4.35 billion for the quarter.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HONA shares. JPMorgan Chase & Co. began coverage on shares of Honeywell Aerospace in a research report on Friday, July 10th. They set a "neutral" rating and a $255.00 target price for the company. Wall Street Zen upgraded shares of Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. Melius Research raised shares of Honeywell Aerospace to a "strong-buy" rating in a research report on Monday, June 29th. BMO Capital Markets started coverage on shares of Honeywell Aerospace in a research report on Thursday, July 2nd. They issued an "outperform" rating and a $276.00 price objective for the company. Finally, Morgan Stanley set a $235.00 price objective on Honeywell Aerospace in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $253.75.

Hedge Funds Weigh In On Honeywell Aerospace

Institutional investors and hedge funds have recently made changes to their positions in the business. Trifecta Capital Advisors LLC bought a new stake in shares of Honeywell Aerospace in the second quarter worth $67,000. Plan Group Financial LLC bought a new stake in shares of Honeywell Aerospace in the 2nd quarter worth about $270,000. Next Capital Management LLC acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at about $270,000. Mill Capital Management LLC bought a new position in shares of Honeywell Aerospace during the second quarter worth about $419,000. Finally, Everett Harris & Co. CA acquired a new position in Honeywell Aerospace in the second quarter worth about $699,000.

Honeywell Aerospace Stock Down 5.9%

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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