Honeywell Aerospace (NASDAQ:HONA) Stock Price Up 3.7% – Should You Buy?

Honeywell Aerospace (NASDAQ:HONA) shares rose 3.7% during trading on Monday . The company traded as high as $165.00 and last traded at $164.08. 4,090,505 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 3,576,827 shares. The stock had previously closed at $158.26.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HONA shares. TD Cowen initiated coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a “hold” rating and a $250.00 price objective on the stock. BNP Paribas Exane cut their target price on shares of Honeywell Aerospace from $245.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. BMO Capital Markets reduced their target price on shares of Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, August 10th. Wall Street Zen upgraded shares of Honeywell Aerospace to a “hold” rating in a research report on Sunday, July 12th. Finally, Jefferies Financial Group set a $175.00 price target on Honeywell Aerospace in a report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Honeywell Aerospace presently has an average rating of “Hold” and a consensus target price of $221.54.

Honeywell Aerospace Trading Up 3.7%

The company has a market cap of $52.01 billion and a price-to-earnings ratio of 87.74. The firm’s 50-day simple moving average is $184.60.

Honeywell Aerospace (NASDAQ:HONA) last posted 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 for the quarter. Equities analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Honeywell Aerospace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new stake in shares of Honeywell Aerospace in the second quarter valued at $24,053,526,000. BlackRock Inc. acquired a new stake in shares of Honeywell Aerospace in the second quarter worth $5,253,341,000. Wellington Management Group LLP purchased a new position in shares of Honeywell Aerospace during the second quarter valued at $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 acquired a new position in 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.