Honeywell Aerospace (NASDAQ:HONA) Trading Up 1.8% After Analyst Upgrade

Shares of Honeywell Aerospace (NASDAQ:HONA) were up 1.8% during trading on Thursday after Susquehanna upgraded the stock to a strong-buy rating. The stock traded as high as $169.74 and last traded at $167.13. Approximately 7,599,546 shares changed hands during mid-day trading, an increase of 109% from the average daily volume of 3,635,116 shares. The stock had previously closed at $164.18.

HONA has been the subject of several other research reports. Weiss Ratings began coverage on shares of Honeywell Aerospace in a report on Friday, September 11th. They issued a “sell (d)” rating for the company. Wall Street Zen raised Honeywell Aerospace to a “hold” rating in a research note on Sunday, July 12th. Jefferies Financial Group set a $175.00 target price on Honeywell Aerospace in a report on Sunday, August 9th. Vertical Research initiated coverage on shares of Honeywell Aerospace in a research note on Wednesday, July 1st. They set a “hold” rating and a $243.00 price target on the stock. Finally, Wolfe Research initiated coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $219.29.

Key Stories Impacting Honeywell Aerospace

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

Several hedge funds and other institutional investors have recently made changes to their positions in HONA. Ameliora Wealth Management Ltd. purchased a new stake in shares of Honeywell Aerospace during the second quarter worth approximately $25,000. Leo H. Evart Inc. purchased a new position in Honeywell Aerospace in the second quarter worth approximately $26,000. Outlook Capital Management LLC purchased a new position in Honeywell Aerospace in the second quarter worth approximately $26,000. Security National Bank of SO Dak acquired a new position in Honeywell Aerospace during the 2nd quarter worth approximately $27,000. Finally, Cherry Tree Wealth Management LLC acquired a new position in Honeywell Aerospace during the 2nd quarter worth approximately $28,000.

Honeywell Aerospace Price Performance

The firm’s 50-day moving average is $178.07. The stock has a market capitalization of $51.85 billion and a P/E ratio of 87.49.

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