Covington Investment Advisors Inc. Invests $3.87 Million in Honeywell Aerospace $HONA

Covington Investment Advisors Inc. purchased a new stake in shares of Honeywell Aerospace (NASDAQ:HONA) during the second quarter, Holdings Channel reports. The institutional investor purchased 17,262 shares of the company’s stock, valued at approximately $3,865,000.

Several other large investors have also recently bought and sold shares of HONA. Meeder Asset Management Inc. purchased a new stake in Honeywell Aerospace in the 2nd quarter worth about $29,000. Bell Investment Advisors Inc purchased a new position in Honeywell Aerospace during the 2nd quarter valued at about $29,000. Strategic Wealth Advisors LLC purchased a new position in Honeywell Aerospace during the 2nd quarter valued at about $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $41,000. Finally, Gables Capital Management Inc. acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at about $47,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HONA. Morgan Stanley upgraded shares of Honeywell Aerospace from an “equal weight” rating to an “overweight” rating and set a $205.00 price target for the company in a report on Wednesday. TD Cowen began 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. Melius Research upgraded shares of Honeywell Aerospace to a “strong-buy” rating in a research report on Monday, June 29th. Evercore set a $210.00 target price on shares of Honeywell Aerospace in a research note on Thursday, August 6th. Finally, Jefferies Financial Group set a $175.00 price target on shares of Honeywell Aerospace in a report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Honeywell Aerospace has a consensus rating of “Hold” and a consensus price target of $224.17.

Honeywell Aerospace Price Performance

HONA opened at $164.73 on Monday. The stock has a market cap of $52.21 billion and a PE ratio of 88.09. Honeywell Aerospace has a fifty-two week low of $150.03 and a fifty-two week high of $297.50.

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

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.