Honeywell Aerospace (NASDAQ:HONA) Sees Large Increase in Short Interest

Key Points

• Short interest surged 61.9% to 8.61 million shares as of September 30, representing about 2.7% of Honeywell Aerospace’s outstanding shares and 1.9 days of average trading volume.
• Honeywell Aerospace shares opened at $163.11, with a market capitalization of $51.7 billion and a 52-week trading range of $149.19 to $297.50. The company reported quarterly revenue of $4.35 billion, while analysts expect full-year EPS of $7.77.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $201.93 price target; institutional investors also recently established several new positions in the stock.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 8,614,534 shares, a growth of 61.9% from the September 15th total of 5,319,740 shares. Based on an average daily volume of 4,490,501 shares, the short-interest ratio is currently 1.9 days. Approximately 2.7% of the company's shares are short sold.

Honeywell Aerospace Stock Up 4.1%

Shares of HONA opened at $163.11 on Friday. The firm has a market cap of $51.70 billion and a P/E ratio of 87.22. Honeywell Aerospace has a fifty-two week low of $149.19 and a fifty-two week high of $297.50. The firm has a 50-day simple moving average of $160.28.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last posted its quarterly earnings results on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The company had revenue of $4.35 billion for the quarter. On average, equities analysts predict that Honeywell Aerospace will post 7.77 earnings per share for the current year.

Institutional Investors Weigh In On Honeywell Aerospace

Institutional investors have recently modified their holdings of the stock. Ironvine Capital Partners LLC bought a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at approximately $10,452,000. Sequoia Financial Advisors LLC acquired a new position in Honeywell Aerospace in the second quarter worth approximately $24,175,000. Tidal Investments LLC acquired a new position in Honeywell Aerospace in the second quarter worth approximately $6,331,000. Werlinich Asset Management LLC bought a new position in Honeywell Aerospace during the second quarter valued at approximately $1,478,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Honeywell Aerospace during the second quarter valued at approximately $3,693,000.

Wall Street Analyst Weigh In

HONA has been the topic of several research analyst reports. TD Cowen lowered their price objective on shares of Honeywell Aerospace from $180.00 to $170.00 and set a "hold" rating on the stock in a research report on Friday, October 9th. Melius Research set a $190.00 target price on Honeywell Aerospace in a report on Monday, September 14th. Weiss Ratings assumed coverage on Honeywell Aerospace in a report on Friday, September 11th. They issued a "sell (d)" rating for the company. BNP Paribas Exane decreased their target price on Honeywell Aerospace from $210.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, October 6th. Finally, Morgan Stanley raised Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 target price for the company in a research report on Wednesday, August 19th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Honeywell Aerospace presently has a consensus rating of "Hold" and a consensus target price of $201.93.

About Honeywell Aerospace

Honeywell Aerospace is an aerospace and defense technology company that develops systems and equipment for commercial aircraft, business and general aviation, military platforms, and spacecraft. Its portfolio includes aircraft engines and propulsion systems, auxiliary power units, avionics, flight controls, environmental control systems, electrical power systems, landing systems, communications technology, and aircraft safety products.

The company also provides software, connected-aircraft technologies, maintenance, repair and overhaul services, spare parts, upgrades, and other aftermarket support.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.