Honeywell Aerospace (NASDAQ:HONA) Shares Down 3% - What's Next?

Key Points

• Honeywell Aerospace shares fell 3% to about $158.46, below the 50-day moving average of $175.40, on trading volume below its average.
• The company announced a Garuda Indonesia maintenance-support agreement and an F-35 cooling-technology upgrade, developments that could strengthen recurring aftermarket revenue and its defense business.
• Analyst sentiment remains mixed but leans toward “Hold”: six analysts rate the stock Buy, nine Hold, and two Sell, with an average price target of $219.29 versus the current share price.

Shares of Honeywell Aerospace (NASDAQ:HONA - Get Free Report) fell 3% during trading on Thursday. The company traded as low as $158.29 and last traded at $158.46. 2,678,341 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 3,801,018 shares. The stock had previously closed at $163.33.

More Honeywell Aerospace News

Here are the key news stories impacting Honeywell Aerospace this week:

• Positive Sentiment: Honeywell Aerospace announced maintenance-support work for Garuda Indonesia and an upgrade involving cooling technology for the F-35 program. The developments could support recurring aftermarket revenue and reinforce the company’s position in military aerospace. Honeywell Aerospace lands Garuda maintenance deal and unveils F-35 cooling upgrade

Wall Street Analyst Weigh In

HONA has been the topic of several recent analyst reports. Wells Fargo & Company set a $195.00 price objective on shares of Honeywell Aerospace in a research note on Monday, August 10th. Jefferies Financial Group set a $175.00 price objective on Honeywell Aerospace in a research report on Sunday, August 9th. Weiss Ratings assumed coverage on Honeywell Aerospace in a research note on Friday, September 11th. They set a "sell (d)" rating for the company. TD Cowen started coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a "hold" rating and a $250.00 price objective on the stock. Finally, Vertical Research assumed 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. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $219.29.

Honeywell Aerospace Price Performance

The company has a market cap of $50.22 billion and a price-to-earnings ratio of 84.74. The business has a 50 day moving average price of $175.40.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its earnings results on Monday, June 15th. The company reported $6,340,000.00 earnings per share (EPS) for the quarter. The firm had revenue of $4.35 billion during the quarter. On average, sell-side analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current year.

Institutional Investors Weigh In On Honeywell Aerospace

A number of institutional investors have recently made changes to their positions in the stock. Ironvine Capital Partners LLC acquired a new position in Honeywell Aerospace in the 2nd quarter valued at about $10,452,000. Sequoia Financial Advisors LLC purchased a new stake in Honeywell Aerospace during the 2nd quarter worth about $24,175,000. Tidal Investments LLC acquired a new position in shares of Honeywell Aerospace during the second quarter worth about $6,331,000. Werlinich Asset Management LLC purchased a new position in Honeywell Aerospace in the second quarter worth approximately $1,478,000. Finally, SFE Investment Counsel purchased a new position in Honeywell Aerospace in the second quarter valued at $2,981,000.

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.

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