Honeywell Aerospace (NASDAQ:HONA) Trading 3.9% Higher – Here’s Why

Shares of Honeywell Aerospace (NASDAQ:HONA) shot up 3.9% on Friday . The stock traded as high as $161.29 and last traded at $161.01. Approximately 3,014,974 shares changed 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

HONA has been the topic of several recent analyst reports. Wall Street Zen raised Honeywell Aerospace to a “hold” rating in a research report on Sunday, July 12th. Jefferies Financial Group set a $175.00 price target on shares of Honeywell Aerospace in a research note on Sunday, August 9th. Wolfe Research began coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a “hold” rating for the company. BMO Capital Markets lowered their price objective on shares of Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Finally, Zacks Research upgraded shares of Honeywell Aerospace to a “hold” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $224.17.

Honeywell Aerospace Stock Performance

The stock has a market capitalization of $51.03 billion and a P/E ratio of 86.10. The stock’s fifty day moving average price is $191.72.

Honeywell Aerospace (NASDAQ:HONA) 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. On average, research analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Institutional Trading of Honeywell Aerospace

Several large investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth $448,000. MLG Wealth Management DBA Pine Grove Financial Group bought a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at $426,000. Allianz Asset Management GmbH purchased a new stake in shares of Honeywell Aerospace in the 2nd quarter worth $9,121,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Honeywell Aerospace in the 2nd quarter worth $1,819,000. Finally, Corient Private Wealth LP bought a new position in Honeywell Aerospace in the 2nd quarter worth $49,860,000.

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.