Honeywell Aerospace (NASDAQ:HONA) Trading Down 2.4% - Time to Sell?

Key Points

• Honeywell Aerospace shares fell 2.4% to $154.24 on Tuesday, well below their 50-day moving average of $194.29, with trading volume down 29% from the average.
• Analyst sentiment is broadly cautious: one analyst rates the stock Strong Buy, five rate it Buy, and nine rate it Hold. The average rating is Hold, with a consensus price target of $224.17.
• The company reported $4.35 billion in quarterly revenue and $6.34 million in EPS, while several institutional investors—including Oppenheimer Asset Management, which purchased $8.8 million in shares—recently initiated positions.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report)'s stock price was down 2.4% during trading on Tuesday . The company traded as low as $153.63 and last traded at $154.24. Approximately 2,537,608 shares were traded during trading, a decline of 29% from the average session volume of 3,598,676 shares. The stock had previously closed at $158.11.

Analyst Ratings Changes

HONA has been the subject of several analyst reports. Jefferies Financial Group set a $175.00 price objective on shares of Honeywell Aerospace in a report on Sunday, August 9th. JPMorgan Chase & Co. assumed coverage on Honeywell Aerospace in a research note on Friday, July 10th. They set a "neutral" rating and a $255.00 target price on the stock. Wolfe Research initiated coverage on Honeywell Aerospace in a research note on Monday, June 29th. They issued a "hold" rating for the company. Vertical Research initiated coverage on Honeywell Aerospace in a report on Wednesday, July 1st. They set a "hold" rating and a $243.00 price target on the stock. Finally, Wall Street Zen raised Honeywell Aerospace to a "hold" rating in a research report on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Honeywell Aerospace currently has an average rating of "Hold" and an average target price of $224.17.

Honeywell Aerospace Stock Down 2.4%

The business's 50 day simple moving average is $194.29. The company has a market cap of $48.89 billion and a price-to-earnings ratio of 82.48.

Honeywell Aerospace (NASDAQ:HONA - Get Free Report) last issued its quarterly earnings data on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The firm had revenue of $4.35 billion during the quarter. On average, equities research analysts expect that Honeywell Aerospace will post 7.75 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hardy Reed LLC purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth $1,151,000. Plan Group Financial LLC purchased a new stake in shares of Honeywell Aerospace in the 2nd quarter worth $270,000. Mill Capital Management LLC bought a new position in Honeywell Aerospace in the 2nd quarter worth $419,000. Bryn Mawr Trust Advisors LLC bought a new position in Honeywell Aerospace in the 2nd quarter worth $1,301,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Honeywell Aerospace during the second quarter valued at $8,809,000.

About Honeywell Aerospace

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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