Wellington Management Group LLP Makes New $1.71 Billion Investment in Honeywell Aerospace $HONA

Wellington Management Group LLP purchased a new position in shares of Honeywell Aerospace (NASDAQ:HONA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,716,131 shares of the company’s stock, valued at approximately $1,705,882,000.

A number of other large investors also recently modified their holdings of HONA. Meeder Asset Management Inc. acquired a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at $29,000. Bell Investment Advisors Inc bought a new stake in Honeywell Aerospace during the 2nd quarter worth $29,000. Strategic Wealth Advisors LLC acquired a new position in Honeywell Aerospace in the 2nd quarter worth about $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Honeywell Aerospace in the 2nd quarter worth about $40,000. Finally, Gables Capital Management Inc. bought a new position in Honeywell Aerospace in the second quarter valued at about $47,000.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BNP Paribas Exane cut their price target on Honeywell Aerospace from $245.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. BMO Capital Markets lowered their price objective on Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Wolfe Research assumed coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They issued a “hold” rating for the company. Royal Bank Of Canada dropped their price objective on shares of Honeywell Aerospace from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Finally, TD Cowen assumed coverage on shares of Honeywell Aerospace in a research report on Monday, June 29th. They set a “hold” rating and a $250.00 target price on the stock. One equities research 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 stock. According to data from MarketBeat, Honeywell Aerospace presently has an average rating of “Hold” and an average target price of $224.17.

Honeywell Aerospace Stock Up 1.0%

NASDAQ HONA opened at $162.37 on Friday. The firm has a market capitalization of $51.46 billion and a P/E ratio of 86.83. Honeywell Aerospace has a twelve month low of $150.03 and a twelve month high of $297.50. The firm has a fifty day moving average of $195.14.

Honeywell Aerospace (NASDAQ:HONA) last announced its earnings results on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The company had revenue of $4.35 billion for the quarter. Sell-side analysts anticipate 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.