Honeywell Aerospace (NASDAQ:HONA) Sets New 1-Year Low - Here's What Happened

Key Points

• Honeywell Aerospace shares hit a new 52-week low, falling to $149.19 in mid-day trading before last trading around $152.15.
• Analysts have a consensus “Hold” rating and an average price target of $224.17, despite mixed views ranging from “Strong Buy” to “Hold.”
• The company reported quarterly revenue of $4.35 billion and EPS of $6.34 million as stated in the article, while major institutions including BlackRock and California State Teachers Retirement System initiated positions.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $149.19 and last traded at $152.1460, with a volume of 169961 shares trading hands. The stock had previously closed at $151.58.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HONA shares. JPMorgan Chase & Co. started coverage on shares of Honeywell Aerospace in a report on Friday, July 10th. They set a "neutral" rating and a $255.00 price objective for the company. BNP Paribas Exane dropped their target price on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. Vertical Research initiated coverage on shares of Honeywell Aerospace in a research report on Wednesday, July 1st. They issued a "hold" rating and a $243.00 target price for the company. Melius Research upgraded shares of Honeywell Aerospace to a "strong-buy" rating in a research note on Monday, June 29th. Finally, Wolfe Research began coverage on Honeywell Aerospace in a report on Monday, June 29th. They set a "hold" rating on the stock. One 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $224.17.

Honeywell Aerospace Stock Up 1.9%

The business has a 50-day moving average of $188.25. The firm has a market cap of $48.96 billion and a price-to-earnings ratio of 82.89.

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 for the quarter. As a group, equities research analysts expect that Honeywell Aerospace will post 7.75 EPS for the current year.

Institutional Trading of Honeywell Aerospace

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

About Honeywell Aerospace

Honeywell Aerospace is an aerospace technology company that develops and supplies systems, components and services for commercial aviation, business and general aviation, defense and space markets. Its portfolio includes aircraft engines, auxiliary power units, avionics, flight controls, navigation and communication systems, thermal management equipment, wheels and brakes, and other propulsion and safety technologies.

The company serves aircraft manufacturers, airlines, business aviation operators, military customers and aftermarket service providers around the world.

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.