Honeywell Aerospace (NASDAQ:HONA) Stock Price Up 1.4% - Time to Buy?

Key Points

• Honeywell Aerospace shares rose 1.4% to $153.75 in Thursday trading, while volume was about 12% below the average. The stock’s market capitalization is $48.73 billion and its price-to-earnings ratio is 82.22.
• Analysts have a mixed outlook, with a consensus “Hold” rating and an average price target of $224.17. Ratings include one Strong Buy, five Buys, and nine Holds.
• The company reported quarterly revenue of $4.35 billion and EPS of $6.34 million, while analysts expect full-year EPS of 7.75. Several investment firms also initiated new positions in Honeywell Aerospace during the second quarter.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report)'s stock price shot up 1.4% during trading on Thursday . The company traded as high as $155.34 and last traded at $153.75. Approximately 3,143,235 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 3,585,762 shares. The stock had previously closed at $151.58.

Wall Street Analysts Forecast Growth

HONA has been the subject of several research analyst reports. Evercore set a $210.00 price objective on shares of Honeywell Aerospace in a report on Thursday, August 6th. Royal Bank Of Canada cut their price target on shares of Honeywell Aerospace from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Wells Fargo & Company set a $195.00 price objective on shares of Honeywell Aerospace in a report on Monday, August 10th. JPMorgan Chase & Co. started coverage on shares of Honeywell Aerospace in a research report on Friday, July 10th. They set a "neutral" rating and a $255.00 price objective for the company. Finally, Wolfe Research started coverage on Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating for the company. One investment 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's stock. According to MarketBeat, Honeywell Aerospace presently has a consensus rating of "Hold" and an average price target of $224.17.

Honeywell Aerospace Stock Up 1.4%

The business's 50 day moving average is $188.25. The firm has a market capitalization of $48.73 billion and a price-to-earnings ratio of 82.22.

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 company had revenue of $4.35 billion during the quarter. On average, research analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. acquired a new stake in Honeywell Aerospace in the second quarter valued at $25,000. Leo H. Evart Inc. bought a new stake in Honeywell Aerospace during the 2nd quarter worth approximately $26,000. Outlook Capital Management LLC bought a new position in shares of Honeywell Aerospace during the 2nd quarter valued at about $26,000. Bell Investment Advisors Inc bought a new stake in shares of Honeywell Aerospace in the 2nd quarter worth approximately $29,000. Finally, Meeder Asset Management Inc. purchased a new position in Honeywell Aerospace during the second quarter valued at $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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