Honeywell Aerospace (NASDAQ:HONA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Honeywell Aerospace (NASDAQ:HONA) have earned a consensus recommendation of “Hold” from the seventeen analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $219.2857.

Several research firms have recently issued reports on HONA. Zacks Research downgraded Honeywell Aerospace from a “hold” rating to a “strong sell” rating in a research note on Monday, September 14th. Susquehanna assumed coverage on shares of Honeywell Aerospace in a research note on Thursday. They issued a “positive” rating and a $190.00 price objective on the stock. Wolfe Research initiated coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a “hold” rating for the company. TD Cowen assumed coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They set a “hold” rating and a $250.00 price objective for the company. Finally, Evercore set a $210.00 price objective on shares of Honeywell Aerospace in a research note on Thursday, August 6th.

Honeywell Aerospace News Roundup

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

• Positive Sentiment: Susquehanna initiated coverage of Honeywell Aerospace with a positive rating, providing new analyst support for the stock and signaling confidence in its aerospace-market outlook. Susquehanna Initiates Coverage of Honeywell Aerospace at Positive
• Positive Sentiment: A bullish Seeking Alpha analysis argued that Honeywell Aerospace’s current headwinds should be temporary, supporting the case that production growth, demand and longer-term fundamentals could improve. Honeywell Aerospace: Strong Buy As Headwinds Should Be Temporary
• Positive Sentiment: Saudi Arabia’s potential $5.75 billion in arms purchases could benefit aerospace and defense suppliers, including Honeywell Aerospace, although the company’s actual share of any contracts remains uncertain. Saudi Arabia’s $5.75 Billion Potential Arms Sales
• Neutral Sentiment: CEO Jim Currier called GE Aerospace’s planned $11.75 billion acquisition of Consolidated Precision Products positive for the broader industry. However, Honeywell does not directly compete with CPP, and persistent aerospace supply constraints remain a concern. Honeywell CEO Calls GE-CPP Deal Positive Amid Persistent Supply Constraints
• Negative Sentiment: A recent analyst downgrade pressured the shares and likely heightened concerns about valuation, near-term growth or aerospace supply-chain execution. Honeywell Aerospace Stock Price Down After Analyst Downgrade
• Negative Sentiment: Jim Cramer said he could not “counsel owning” Honeywell Aerospace, adding prominent negative commentary and reinforcing short-term investor caution. Jim Cramer Says He Can’t Counsel Owning Honeywell Aerospace

Hedge Funds Weigh In On Honeywell Aerospace

A number of institutional investors have recently made changes to their positions in the stock. Ironvine Capital Partners LLC acquired a new stake in Honeywell Aerospace during the second quarter worth approximately $10,452,000. Sequoia Financial Advisors LLC purchased a new stake in Honeywell Aerospace in the 2nd quarter worth approximately $24,175,000. Tidal Investments LLC acquired a new position in Honeywell Aerospace in the 2nd quarter valued at $6,331,000. SFE Investment Counsel purchased a new position in Honeywell Aerospace during the second quarter worth about $2,981,000. Finally, Werlinich Asset Management LLC purchased a new position in shares of Honeywell Aerospace during the 2nd quarter worth about $1,478,000.

Honeywell Aerospace Trading Down 2.1%

HONA opened at $163.60 on Monday. The firm has a market cap of $51.85 billion and a PE ratio of 87.49. The stock has a 50 day moving average price of $178.07. Honeywell Aerospace has a 1-year low of $149.19 and a 1-year high of $297.50.

Honeywell Aerospace (NASDAQ:HONA) last released its quarterly earnings data on Monday, June 15th. The company reported $6,340,000.00 earnings per share for the quarter. The firm had revenue of $4.35 billion during the quarter. As a group, equities analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

About Honeywell Aerospace

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.