Honeywell Aerospace (NASDAQ:HONA) Stock Price Down 2.6% - What's Next?

Key Points

• Honeywell Aerospace shares fell 2.6% to $158.11 in mid-day trading, with volume 17% above its average. The stock’s 50-day moving average is $195.14, while its market capitalization is approximately $50.11 billion.
• Analyst sentiment remains mixed but leans neutral: the stock has a consensus “Hold” rating from MarketBeat, with one Strong Buy, five Buys, and nine Holds. The average price target is $224.17, though recent targets range from $175 to $255.
• Honeywell Aerospace reported quarterly revenue of $4.35 billion and analysts expect full-year earnings of $7.75 per share. Several institutional investors also initiated positions during the second quarter, although each reported investment was relatively small.

Shares of Honeywell Aerospace (NASDAQ:HONA - Get Free Report) dropped 2.6% during mid-day trading on Monday . The company traded as low as $155.97 and last traded at $158.11. Approximately 4,249,861 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 3,618,115 shares. The stock had previously closed at $162.37.

Wall Street Analyst Weigh In

Several analysts have weighed in on HONA shares. Zacks Research raised Honeywell Aerospace to a "hold" rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. initiated coverage on shares of Honeywell Aerospace in a research note on Friday, July 10th. They set a "neutral" rating and a $255.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. Jefferies Financial Group set a $175.00 price objective on Honeywell Aerospace in a report on Sunday, August 9th. Finally, Evercore set a $210.00 price objective on Honeywell Aerospace in a research report on Thursday, August 6th. One 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 company. Based on data from MarketBeat.com, Honeywell Aerospace has a consensus rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Trading Down 2.6%

The firm has a market cap of $50.11 billion and a price-to-earnings ratio of 84.55. The firm's fifty day simple moving average is $195.14.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last announced 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 during the quarter. On average, sell-side analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Honeywell Aerospace

Several institutional investors have recently made changes to their positions in HONA. Ameliora Wealth Management Ltd. acquired a new position in shares of Honeywell Aerospace during the 2nd quarter worth $25,000. Leo H. Evart Inc. acquired a new position in Honeywell Aerospace during the second quarter worth $26,000. Outlook Capital Management LLC bought a new position in Honeywell Aerospace during the second quarter valued at about $26,000. Meeder Asset Management Inc. bought a new position in Honeywell Aerospace during the second quarter valued at about $29,000. Finally, Bell Investment Advisors Inc acquired a new position in Honeywell Aerospace during the second quarter valued at approximately $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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