Honeywell Aerospace (NASDAQ:HONA) Shares Up 2.9% - Time to Buy?

Key Points

• Honeywell Aerospace shares rose 2.9% to $158.26 in Friday trading, although volume was about 30% below its average.
• Analyst sentiment is mixed: the stock has an overall “Hold” rating and an average price target of $224.17, with targets recently lowered by UBS and BNP Paribas Exane.
• The company reported quarterly revenue of $4.35 billion, while analysts expect full-year earnings of $7.75 per share; the stock trades at a market value of $50.16 billion and a P/E ratio of 84.64.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report)'s share price rose 2.9% on Friday . The stock traded as high as $158.44 and last traded at $158.26. Approximately 2,500,437 shares changed hands during trading, a decline of 30% from the average daily volume of 3,558,424 shares. The stock had previously closed at $153.75.

Wall Street Analysts Forecast Growth

HONA has been the topic of a number of analyst reports. Argus started coverage on Honeywell Aerospace in a research report on Thursday, July 9th. They set a "buy" rating and a $275.00 price objective on the stock. Wolfe Research initiated coverage on Honeywell Aerospace in a report on Monday, June 29th. They issued a "hold" rating for the company. UBS Group cut their target price on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Melius Research upgraded Honeywell Aerospace to a "strong-buy" rating in a report on Monday, June 29th. Finally, BNP Paribas Exane lowered their price target on shares of Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Honeywell Aerospace currently has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Stock Performance

The stock has a market capitalization of $50.16 billion and a PE ratio of 84.64. The company's 50-day moving average is $186.38.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last posted its earnings results 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 forecast that Honeywell Aerospace will post 7.75 EPS for the current year.

Institutional Trading of Honeywell Aerospace

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ameliora Wealth Management Ltd. acquired a new stake in shares of Honeywell Aerospace during the second quarter valued at about $25,000. Leo H. Evart Inc. acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $26,000. Outlook Capital Management LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $29,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $29,000.

Honeywell Aerospace Company Profile

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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