Honeywell Aerospace (NASDAQ:HONA) Trading Up 3.9% - What's Next?

Key Points

• Honeywell Aerospace shares rose 3.9% to $216.48 during midday trading, with volume slightly below its average.
• Analyst sentiment remains mixed: Jefferies upgraded the stock to positive, while ratings overall stand at one Strong Buy, four Buys, and ten Holds. The consensus rating is Hold, with an average price target of $253.75.
• Several hedge funds initiated new positions in Honeywell Aerospace during the second quarter, with disclosed investments ranging from approximately $67,000 to $699,000.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) shares traded up 3.9% during mid-day trading on Tuesday . The stock traded as high as $217.06 and last traded at $216.48. 2,736,323 shares were traded during trading, a decline of 5% from the average daily volume of 2,870,050 shares. The stock had previously closed at $208.27.

Wall Street Analysts Forecast Growth

HONA has been the subject of a number of recent research reports. Jefferies Financial Group upgraded shares of Honeywell Aerospace from a "hold" rating to a "positive" rating in a research report on Wednesday, July 29th. Royal Bank Of Canada restated an "outperform" rating and set a $300.00 price target on shares of Honeywell Aerospace in a research report on Monday, July 20th. BNP Paribas Exane began coverage on shares of Honeywell Aerospace in a research note on Tuesday, June 30th. They set a "neutral" rating and a $245.00 price objective for the company. Wolfe Research started coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They issued a "hold" rating for the company. Finally, Argus started coverage on shares of Honeywell Aerospace in a research note on Thursday, July 9th. They issued a "buy" rating and a $275.00 target price on the stock. 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 company's stock. According to MarketBeat.com, Honeywell Aerospace presently has a consensus rating of "Hold" and an average price target of $253.75.

Honeywell Aerospace Stock Performance

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Trifecta Capital Advisors LLC purchased a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at approximately $67,000. Plan Group Financial LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $270,000. Next Capital Management LLC purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $270,000. Mill Capital Management LLC purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $419,000. Finally, Everett Harris & Co. CA acquired a new stake in Honeywell Aerospace in the 2nd quarter valued at approximately $699,000.

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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