Honeywell Aerospace Sees Unusually High Options Volume (NASDAQ:HONA)

Key Points

• Honeywell Aerospace saw unusually high options activity, with investors acquiring 30,714 call options—about 1,045% above its typical volume of 2,683 contracts.
• Shares rose $3.05 to $163.41 during Wednesday trading, giving the company a market capitalization of $51.79 billion. The stock remains well below its 12-month high of $297.50.
• Analyst sentiment is mixed: HONA has a consensus “Hold” rating and an average price target of $224.17, despite one recent upgrade to “Strong Buy” and several targets ranging from $175 to $210.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) saw some unusual options trading activity on Wednesday. Investors acquired 30,714 call options on the company. This represents an increase of approximately 1,045% compared to the typical volume of 2,683 call options.

Honeywell Aerospace Price Performance

Honeywell Aerospace stock traded up $3.05 during midday trading on Wednesday, hitting $163.41. 2,261,577 shares of the company's stock were exchanged, compared to its average volume of 3,608,746. The stock has a market cap of $51.79 billion and a price-to-earnings ratio of 87.39. Honeywell Aerospace has a 12 month low of $150.03 and a 12 month high of $297.50.

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 business had revenue of $4.35 billion during the quarter. On average, equities analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Institutional Trading of Honeywell Aerospace

Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System purchased a new position in Honeywell Aerospace in the second quarter valued at about $24,053,526,000. BlackRock Inc. bought a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at about $5,253,341,000. Wellington Management Group LLP bought a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at about $1,705,882,000. Bank of America Corp DE purchased a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $1,034,187,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $644,412,000.

Analyst Upgrades and Downgrades

HONA has been the topic of a number of research analyst reports. Melius Research upgraded shares of Honeywell Aerospace to a "strong-buy" rating in a research note on Monday, June 29th. Wells Fargo & Company set a $195.00 price target on shares of Honeywell Aerospace in a research note on Monday, August 10th. BNP Paribas Exane lowered their price target on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating for the company in a report on Thursday, August 6th. Evercore set a $210.00 price objective on Honeywell Aerospace in a research note on Thursday, August 6th. Finally, Jefferies Financial Group set a $175.00 price objective on Honeywell Aerospace in a report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $224.17.

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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