Honeywell Aerospace (NASDAQ:HONA) Trading Down 2.5% – Here’s Why

Shares of Honeywell Aerospace (NASDAQ:HONA) fell 2.5% during mid-day trading on Wednesday . The company traded as low as $150.97 and last traded at $151.58. 3,072,402 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 3,590,958 shares. The stock had previously closed at $155.42.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Melius Research raised shares of Honeywell Aerospace to a “strong-buy” rating in a research report on Monday, June 29th. Zacks Research raised Honeywell Aerospace to a “hold” rating in a research report on Wednesday, July 1st. BMO Capital Markets dropped their price target on Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, August 10th. BNP Paribas Exane cut their price objective on Honeywell Aerospace from $245.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Finally, TD Cowen began coverage on Honeywell Aerospace in a research note on Monday, June 29th. They issued a “hold” rating and a $250.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Honeywell Aerospace currently has an average rating of “Hold” and a consensus target price of $224.17.

Honeywell Aerospace Stock Up 2.4%

The stock has a market capitalization of $49.88 billion and a price-to-earnings ratio of 83.95. The stock has a 50-day simple moving average of $186.38.

Honeywell Aerospace (NASDAQ:HONA) last issued 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 for the quarter. On average, analysts anticipate that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Institutional Investors Weigh In On Honeywell Aerospace

Institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at approximately $24,053,526,000. BlackRock Inc. purchased a new position in Honeywell Aerospace in the 2nd quarter valued at approximately $5,253,341,000. Wellington Management Group LLP bought a new stake in Honeywell Aerospace during the 2nd quarter valued at $1,705,882,000. Bank of America Corp DE bought a new stake in Honeywell Aerospace during the 2nd quarter valued at $1,034,187,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Honeywell Aerospace during the second quarter worth $644,412,000.

Honeywell Aerospace Company Profile

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.