Rakuten Investment Management Inc. Takes Position in Honeywell Aerospace $HONA

Rakuten Investment Management Inc. acquired a new position in Honeywell Aerospace (NASDAQ:HONA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 76,392 shares of the company’s stock, valued at approximately $17,402,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Honeywell Aerospace in the second quarter valued at approximately $5,253,341,000. Bank of America Corp DE purchased a new position in Honeywell Aerospace in the second quarter worth $1,034,187,000. Bank of New York Mellon Corp purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at $644,412,000. Legal & General Group Plc purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at $370,665,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter worth $205,658,000.

Wall Street Analyst Weigh In

HONA has been the topic of several research analyst reports. Wolfe Research began coverage on Honeywell Aerospace in a research note on Monday, June 29th. They set a “hold” rating on the stock. Jefferies Financial Group set a $175.00 price target on Honeywell Aerospace in a research note on Sunday, August 9th. Wall Street Zen upgraded shares of Honeywell Aerospace to a “hold” rating in a report on Sunday, July 12th. JPMorgan Chase & Co. began coverage on shares of Honeywell Aerospace in a research report on Friday, July 10th. They issued a “neutral” rating and a $255.00 price objective for the company. Finally, Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $224.17.

Honeywell Aerospace Price Performance

NASDAQ HONA opened at $162.37 on Friday. The stock has a market cap of $51.46 billion and a price-to-earnings ratio of 86.83. The company’s 50-day moving average is $195.14. 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 earnings per share for the quarter. The company had revenue of $4.35 billion for the quarter. Sell-side analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current year.

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.