Honeywell Aerospace (NASDAQ:HONA) Trading 3.9% Higher - Still a Buy?

Key Points

• Honeywell Aerospace shares rose 3.9% to $161.01 in Friday trading, with volume 16% below the stock’s average daily volume.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating from MarketBeat, despite an average price target of $224.17 and recent upgrades from Morgan Stanley and Melius Research.
• The company reported quarterly revenue of $4.35 billion and EPS of $6.34 million as stated in the article; analysts expect full-year EPS of approximately $7.75. Honeywell Aerospace has a $51.03 billion market capitalization and a P/E ratio of 86.10.

Shares of Honeywell Aerospace (NASDAQ:HONA - Get Free Report) traded up 3.9% during trading on Friday . The company traded as high as $161.29 and last traded at $161.01. 3,014,974 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 3,581,618 shares. The stock had previously closed at $154.96.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HONA shares. Wall Street Zen raised shares of Honeywell Aerospace to a "hold" rating in a research note on Sunday, July 12th. Evercore set a $210.00 price target on shares of Honeywell Aerospace in a research note on Thursday, August 6th. BMO Capital Markets cut their price objective on Honeywell Aerospace from $276.00 to $209.00 and set an "outperform" rating on the stock in a research report on Monday, August 10th. Melius Research upgraded Honeywell Aerospace to a "strong-buy" rating in a report on Monday, June 29th. Finally, Morgan Stanley raised 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $224.17.

Honeywell Aerospace Price Performance

The company has a market capitalization of $51.03 billion and a PE ratio of 86.10. The firm has a 50 day simple moving average of $191.72.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last posted its quarterly earnings results 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, sell-side analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HONA. Ameliora Wealth Management Ltd. purchased a new stake in shares of Honeywell Aerospace during the second quarter valued at approximately $25,000. Leo H. Evart Inc. purchased a new position in Honeywell Aerospace in the 2nd quarter worth approximately $26,000. Outlook Capital Management LLC purchased a new position in Honeywell Aerospace in the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc bought a new position in Honeywell Aerospace in the 2nd quarter valued at approximately $29,000. Finally, Meeder Asset Management Inc. bought a new position in Honeywell Aerospace in the 2nd quarter valued at approximately $29,000.

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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