Honeywell Aerospace (NASDAQ:HONA) Stock Price Down 2.4% – Time to Sell?

Shares of Honeywell Aerospace (NASDAQ:HONA) dropped 2.4% on Tuesday . The company traded as low as $153.63 and last traded at $154.24. Approximately 2,537,608 shares traded hands during trading, a decline of 29% from the average daily volume of 3,598,676 shares. The stock had previously closed at $158.11.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HONA shares. TD Cowen started coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They issued a “hold” rating and a $250.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Honeywell Aerospace in a research note on Friday, July 10th. They issued a “neutral” rating and a $255.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Wall Street Zen upgraded shares of Honeywell Aerospace to a “hold” rating in a research note on Sunday, July 12th. Finally, Morgan Stanley raised shares of Honeywell Aerospace from an “equal weight” rating to an “overweight” rating and set a $205.00 target price for the company in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Honeywell Aerospace presently has an average rating of “Hold” and an average price target of $224.17.

Honeywell Aerospace Price Performance

The business has a 50 day moving average of $194.29. The firm has a market cap of $48.89 billion and a price-to-earnings ratio of 82.48.

Honeywell Aerospace (NASDAQ:HONA) last released 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 during the quarter. As a group, equities analysts anticipate that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SFE Investment Counsel purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter worth approximately $2,981,000. MidFirst Bank purchased a new stake in Honeywell Aerospace during the second quarter valued at $5,608,000. Oppenheimer Asset Management Inc. bought a new position in Honeywell Aerospace during the second quarter valued at $8,809,000. IMC Chicago LLC bought a new position in Honeywell Aerospace during the second quarter valued at $10,508,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Honeywell Aerospace in the 2nd quarter worth $157,189,000.

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.