Honeywell Aerospace (NASDAQ:HONA) Stock Price Down 2.6% – Should You Sell?

Honeywell Aerospace (NASDAQ:HONA) shares dropped 2.6% during trading on Monday . The stock traded as low as $155.97 and last traded at $158.11. 4,249,861 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 3,618,115 shares. The stock had previously closed at $162.37.

Wall Street Analyst Weigh In

HONA has been the topic of several research analyst reports. TD Cowen initiated coverage on Honeywell Aerospace in a research report on Monday, June 29th. They issued a “hold” rating and a $250.00 price target on the stock. Vertical Research started coverage on Honeywell Aerospace in a research report on Wednesday, July 1st. They set a “hold” rating and a $243.00 price objective for the company. Melius Research upgraded Honeywell Aerospace to a “strong-buy” rating in a research note on Monday, June 29th. Wells Fargo & Company set a $195.00 target price on Honeywell Aerospace in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. began coverage on Honeywell Aerospace in a research report on Friday, July 10th. They issued a “neutral” rating and a $255.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $224.17.

Honeywell Aerospace Stock Down 2.6%

The firm’s 50 day simple moving average is $195.14. The stock has a market cap of $50.11 billion and a price-to-earnings ratio of 84.55.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Grandfield & Dodd LLC bought a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at $759,000. SCS Capital Management LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at $1,821,000. SFE Investment Counsel acquired a new stake in shares of Honeywell Aerospace during the second quarter worth $2,981,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Honeywell Aerospace in the second quarter valued at about $377,905,000. Finally, MidFirst Bank bought a new stake in Honeywell Aerospace in the second quarter valued at about $5,608,000.

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.