Primecap Management Co. CA Invests $54.65 Million in Honeywell Aerospace $HONA

Primecap Management Co. CA bought a new position in Honeywell Aerospace (NASDAQ:HONA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 244,100 shares of the company’s stock, valued at approximately $54,654,000. Primecap Management Co. CA owned approximately 0.08% of Honeywell Aerospace at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HONA. BlackRock Inc. bought a new stake in Honeywell Aerospace in the second quarter worth $5,253,341,000. Bank of New York Mellon Corp purchased a new stake in Honeywell Aerospace in the 2nd quarter worth about $644,412,000. Legal & General Group Plc bought a new stake in shares of Honeywell Aerospace during the 2nd quarter worth approximately $370,665,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Honeywell Aerospace during the second quarter worth $205,658,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Honeywell Aerospace in the 2nd quarter valued at about $174,914,000.

Honeywell Aerospace Price Performance

HONA opened at $164.01 on Thursday. The stock has a market capitalization of $51.98 billion and a price-to-earnings ratio of 87.71. The company has a 50-day moving average of $196.77. Honeywell Aerospace has a 1 year low of $150.03 and a 1 year high of $297.50.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HONA shares. Melius Research raised Honeywell Aerospace to a “strong-buy” rating in a research report on Monday, June 29th. Wolfe Research started coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a “hold” rating on the stock. Wall Street Zen raised shares of Honeywell Aerospace to a “hold” rating in a research report on Sunday, July 12th. TD Cowen assumed coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They issued a “hold” rating and a $250.00 price target for the company. Finally, Evercore set a $210.00 price objective on shares of Honeywell Aerospace in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Honeywell Aerospace currently has a consensus rating of “Hold” and an average price target of $224.17.

Honeywell Aerospace 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.