Honeywell Aerospace (NASDAQ:HONA) Trading Down 1% - Time to Sell?

Key Points

• Honeywell Aerospace shares fell 1% to $167.32 in mid-day trading, below the 50-day moving average of $177.19. The company has a $53.03 billion market capitalization and a P/E ratio of 89.48.
• Analyst sentiment is mixed, with six Buy, nine Hold, and two Sell ratings, resulting in an overall Hold consensus and an average price target of $219.29. Recent targets range from $190 to $210.
• Major institutions, including BlackRock, State Street, and Wellington Management, established significant positions during the second quarter, while analysts expect Honeywell Aerospace to report $7.75 in EPS for the current fiscal year.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report)'s share price traded down 1% during mid-day trading on Tuesday . The stock traded as low as $166.03 and last traded at $167.32. Approximately 3,831,886 shares traded hands during mid-day trading, an increase of 0% from the average session volume of 3,829,163 shares. The stock had previously closed at $169.03.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings assumed coverage on shares of Honeywell Aerospace in a report on Friday, September 11th. They set a "sell (d)" rating on the stock. Evercore set a $210.00 target price on Honeywell Aerospace in a research note on Thursday, August 6th. Wolfe Research began coverage on Honeywell Aerospace in a report on Monday, June 29th. They issued a "hold" rating on the stock. Susquehanna began coverage on Honeywell Aerospace in a report on Thursday, September 17th. They set a "positive" rating and a $190.00 price objective for the company. Finally, Morgan Stanley raised Honeywell Aerospace from an "equal weight" rating to an "overweight" rating and set a $205.00 price objective on the stock in a research report on Wednesday, August 19th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $219.29.

Honeywell Aerospace Price Performance

The company has a market capitalization of $53.03 billion and a P/E ratio of 89.48. The business's 50-day moving average price is $177.19.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Honeywell Aerospace in the 2nd quarter worth $5,253,341,000. State Street Corp bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth $2,945,044,000. Wellington Management Group LLP bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth $1,705,882,000. Bank of America Corp DE purchased a new position in shares of Honeywell Aerospace during the second quarter valued at $1,034,187,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Honeywell Aerospace during the second quarter valued at $644,412,000.

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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