Honeywell Aerospace (NASDAQ:HONA) Shares Down 1.1% - Here's What Happened

Key Points

• Honeywell Aerospace shares fell 1.1% to $152.55 in mid-day trading, with volume down 24% from the stock’s average daily level.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $224.17 average price target, despite recent upgrades and several bullish targets.
• The company reported $4.35 billion in quarterly revenue and $6.34 million in EPS, while institutional investors including Ameliora Wealth Management and Meeder Asset Management recently initiated positions.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) shares dropped 1.1% during mid-day trading on Wednesday . The stock traded as low as $151.97 and last traded at $152.55. Approximately 2,719,483 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 3,585,089 shares. The stock had previously closed at $154.24.

Analyst Upgrades and Downgrades

HONA has been the topic of a number of analyst reports. Argus began coverage on Honeywell Aerospace in a research note on Thursday, July 9th. They issued a "buy" rating and a $275.00 price target on the stock. Melius Research raised shares of Honeywell Aerospace to a "strong-buy" rating in a research note on Monday, June 29th. Royal Bank Of Canada cut their target price on shares of Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Jefferies Financial Group set a $175.00 price target on Honeywell Aerospace in a report on Sunday, August 9th. Finally, Evercore set a $210.00 target price on shares of Honeywell Aerospace in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Honeywell Aerospace currently has a consensus rating of "Hold" and a consensus price target of $224.17.

Honeywell Aerospace Trading Down 1.1%

The business has a 50 day simple moving average of $193.40. The stock has a market capitalization of $48.35 billion and a PE ratio of 81.58.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last posted its quarterly earnings data 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. Analysts anticipate that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Honeywell Aerospace

A number of institutional investors have recently added to or reduced their stakes in HONA. Ameliora Wealth Management Ltd. bought a new stake in shares of Honeywell Aerospace in the 2nd quarter worth $25,000. Leo H. Evart Inc. acquired a new position in Honeywell Aerospace during the second quarter worth about $26,000. Outlook Capital Management LLC acquired a new position in Honeywell Aerospace during the second quarter worth about $26,000. Meeder Asset Management Inc. bought a new stake in Honeywell Aerospace in the second quarter worth about $29,000. Finally, Bell Investment Advisors Inc bought a new stake in Honeywell Aerospace in the second quarter worth about $29,000.

About Honeywell Aerospace

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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