Honeywell Aerospace (NASDAQ:HONA) Stock Price Up 1.8% - Still a Buy?

Key Points

• Honeywell Aerospace shares rose 1.8% to $167.13, with trading volume more than double the average session volume. The stock remains below its 50-day moving average of $180.33.
• Analyst sentiment is mixed but leans toward caution: six analysts rate the stock a Buy, nine Hold, and two Sell. The consensus rating is Hold, with an average price target of $219.29.
• The company reported quarterly revenue of $4.35 billion, while its stock carries a market capitalization of about $52.97 billion and a high price-to-earnings ratio of 89.37.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report)'s stock price rose 1.8% during mid-day trading on Thursday . The company traded as high as $169.74 and last traded at $167.13. 7,599,546 shares were traded during mid-day trading, an increase of 109% from the average session volume of 3,635,116 shares. The stock had previously closed at $164.18.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HONA shares. Wall Street Zen upgraded Honeywell Aerospace to a "hold" rating in a report on Sunday, July 12th. JPMorgan Chase & Co. started coverage on Honeywell Aerospace in a research report on Friday, July 10th. They issued a "neutral" rating and a $255.00 price target for the company. Evercore set a $210.00 price target on Honeywell Aerospace in a research note on Thursday, August 6th. Zacks Research lowered Honeywell Aerospace from a "hold" rating to a "strong sell" rating in a report on Monday. Finally, UBS Group cut their price objective on Honeywell Aerospace from $231.00 to $213.00 and set a "neutral" rating on the stock in a research note on Thursday, August 6th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $219.29.

Honeywell Aerospace Trading Up 1.8%

The stock has a market cap of $52.97 billion and a PE ratio of 89.37. The stock has a fifty day simple moving average of $180.33.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last released its quarterly earnings results on Monday, June 15th. The company reported $6,340,000.00 earnings per share (EPS) for the quarter. The firm had revenue of $4.35 billion for the quarter. Equities research analysts anticipate that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Institutional Trading of Honeywell Aerospace

Several hedge funds have recently added to or reduced their stakes in the business. HBK Investments L P acquired a new stake in Honeywell Aerospace in the 2nd quarter valued at approximately $5,528,000. Anchor Investment Management LLC acquired a new position in shares of Honeywell Aerospace during the second quarter worth approximately $93,000. Reynders McVeigh Capital Management LLC acquired a new position in shares of Honeywell Aerospace during the second quarter worth approximately $885,000. Cherry Tree Wealth Management LLC bought a new stake in shares of Honeywell Aerospace in the second quarter valued at approximately $28,000. Finally, Smith Chas P & Associates PA Cpas bought a new stake in shares of Honeywell Aerospace in the second quarter valued at approximately $203,000.

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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