Honeywell Aerospace (NASDAQ:HONA) Stock Price Down 2.1% - Time to Sell?

Key Points

• Honeywell Aerospace shares fell 2.1% to $163.60 in heavy trading, with volume reaching nearly 13.2 million shares—about 249% above the average session volume.
• Analyst sentiment is mixed: the stock has an average rating of “Hold” and a consensus price target of $219.29, though Morgan Stanley upgraded it to “Overweight” while several firms recently lowered their targets.
• The company reported quarterly revenue of $4.35 billion and earnings per share of $6.34, while major institutional investors—including BlackRock, Wellington Management and Bank of America—established significant new positions.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) shares fell 2.1% during mid-day trading on Friday . The company traded as low as $162.00 and last traded at $163.60. 13,228,915 shares traded hands during mid-day trading, an increase of 249% from the average session volume of 3,794,249 shares. The stock had previously closed at $167.13.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HONA shares. Morgan Stanley raised shares of Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 target price for the company in a research report on Wednesday, August 19th. BNP Paribas Exane cut their price target on Honeywell Aerospace from $245.00 to $210.00 and set a "neutral" rating for the company in a research note on Thursday, August 6th. Wells Fargo & Company set a $195.00 price objective on Honeywell Aerospace in a report on Monday, August 10th. Royal Bank Of Canada decreased their price target on Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Finally, Wolfe Research started coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They set a "hold" rating on the stock. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $219.29.

Honeywell Aerospace Trading Down 2.1%

The stock's 50 day moving average is $179.21. The stock has a market cap of $51.85 billion and a price-to-earnings ratio of 87.49.

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 for the quarter. The business had revenue of $4.35 billion for the quarter. As a group, research analysts expect that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Honeywell Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of HONA. BlackRock Inc. bought a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at about $5,253,341,000. Wellington Management Group LLP bought a new position in shares of Honeywell Aerospace during the second quarter valued at about $1,705,882,000. Bank of America Corp DE purchased a new stake in shares of Honeywell Aerospace during the second quarter valued at approximately $1,034,187,000. Bank of New York Mellon Corp purchased a new position in shares of Honeywell Aerospace in the second quarter valued at about $644,412,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Honeywell Aerospace during the 2nd quarter valued at approximately $370,544,000.

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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