Zacks Research Downgrades Honeywell Aerospace (NASDAQ:HONA) to Strong Sell

Honeywell Aerospace (NASDAQ:HONA) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday, Zacks reports.

A number of other research analysts have also commented on HONA. BMO Capital Markets cut their price objective on shares of Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. JPMorgan Chase & Co. started coverage on Honeywell Aerospace in a research note on Friday, July 10th. They set a “neutral” rating and a $255.00 price target on the stock. Jefferies Financial Group set a $175.00 price target on Honeywell Aerospace in a report on Sunday, August 9th. Wolfe Research initiated coverage on Honeywell Aerospace in a research report on Monday, June 29th. They issued a “hold” rating for the company. Finally, Melius Research set a $190.00 price objective on Honeywell Aerospace in a report on Monday. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Honeywell Aerospace has an average rating of “Hold” and an average price target of $221.54.

Honeywell Aerospace Price Performance

Shares of HONA stock opened at $158.49 on Monday. The company has a market capitalization of $50.23 billion and a price-to-earnings ratio of 84.75. Honeywell Aerospace has a 1 year low of $149.19 and a 1 year high of $297.50. The business’s fifty day moving average is $181.54.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HONA. Ameliora Wealth Management Ltd. bought a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at approximately $25,000. Leo H. Evart Inc. bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth approximately $26,000. Outlook Capital Management LLC acquired a new stake in Honeywell Aerospace in the 2nd quarter valued at $26,000. Cherry Tree Wealth Management LLC bought a new stake in Honeywell Aerospace in the second quarter valued at $28,000. Finally, Bell Investment Advisors Inc bought a new stake in Honeywell Aerospace in the second quarter valued at $29,000.

Honeywell Aerospace News Roundup

Here are the key news stories impacting Honeywell Aerospace this week:

• Positive Sentiment: Management’s appearance at Morgan Stanley’s Laguna Conference reinforced the investment case around durable aerospace demand, a growing backlog and ongoing supply-chain investments intended to increase production over time. Honeywell Aerospace Presents at Morgan Stanley’s Laguna Conference Transcript
• Positive Sentiment: Investor sentiment had improved after management updates suggested demand remains resilient and supply constraints are being addressed. The company’s recent sales growth and a director’s purchase of 6,400 shares at $156 may have provided additional support. Honeywell Aerospace Gains as Investors Reassess Spin-Off After Management Updates
• Positive Sentiment: A proposed $1.5 trillion U.S. defense budget highlights the favorable long-term spending environment for aerospace and defense suppliers, supporting the bullish case for Honeywell Aerospace. A $1.5 Trillion Defense Budget Is on the Table
• Neutral Sentiment: Honeywell Aerospace has shown relative strength versus the Nasdaq over the past year, while analysts’ median price target remains substantially above the current trading level. However, the broader analyst consensus is still “Hold,” indicating uncertainty about the timing of the recovery. Is Honeywell Aerospace Outperforming the Nasdaq?
• Negative Sentiment: Melius Research downgraded Honeywell Aerospace from “Strong Buy” to “Hold.” The rating change is the clearest near-term pressure on the stock and may be prompting investors to lock in gains or reassess valuation. Honeywell Aerospace Downgrade Report
• Negative Sentiment: The company previously reduced its full-year organic growth outlook to 4%–5% from 7%–9%, despite reporting 5% sales growth. That guidance cut remains an important overhang and helps explain the stock’s recent weakness.

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.