Honeywell Aerospace (NASDAQ:HONA) Stock Price Down 3.5% - Should You Sell?

Key Points

• Honeywell Aerospace shares fell 3.5% to about $155.42 in mid-day trading, with volume 26% above the average session level. The stock is also well below its 50-day moving average of $190.46.
• Analyst sentiment is mixed: MarketBeat reports an average rating of “Hold” from 15 analysts, with an average price target of $224.17. Recent targets range from $175 to $275, including RBC’s reduction of its target from $300 to $250 while maintaining an “outperform” rating.
• The company reported quarterly revenue of $4.35 billion, while analysts expect full-year earnings per share of $7.75. Several institutional investors, including Nykredit and Allianz Asset Management, opened new positions during the second quarter.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report)'s share price traded down 3.5% on Tuesday . The stock traded as low as $154.78 and last traded at $155.42. Approximately 4,507,779 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 3,581,835 shares. The stock had previously closed at $161.01.

Analyst Ratings Changes

Several research analysts have recently issued reports on HONA shares. Royal Bank Of Canada cut their price target on 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 objective on shares of Honeywell Aerospace in a research note on Sunday, August 9th. Melius Research upgraded shares of Honeywell Aerospace to a "strong-buy" rating in a report on Monday, June 29th. Argus assumed coverage on shares of Honeywell Aerospace in a research report on Thursday, July 9th. They set a "buy" rating and a $275.00 target price for the company. Finally, Evercore set a $210.00 price target on shares of Honeywell Aerospace in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $224.17.

Honeywell Aerospace Price Performance

The company has a market capitalization of $49.26 billion and a P/E ratio of 83.11. The company has a fifty day simple moving average of $190.46.

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. Equities research analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Hedge Funds Weigh In On Honeywell Aerospace

Institutional investors have recently added to or reduced their stakes in the business. Nykredit A S acquired a new position in Honeywell Aerospace during the second quarter worth approximately $16,634,000. Parkside Financial Bank & Trust purchased a new position in Honeywell Aerospace in the second quarter valued at about $448,000. MLG Wealth Management DBA Pine Grove Financial Group purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at about $426,000. Allianz Asset Management GmbH acquired a new position in shares of Honeywell Aerospace during the second quarter worth $9,121,000. Finally, Brown Lisle Cummings Inc. acquired a new position in Honeywell Aerospace in the 2nd quarter worth $1,819,000.

Honeywell Aerospace Company Profile

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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