Honeywell Aerospace (NASDAQ:HONA) Given Average Recommendation of “Hold” by Analysts

Shares of Honeywell Aerospace (NASDAQ:HONA) have earned an average rating of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $219.2857.

HONA has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Honeywell Aerospace in a report on Friday, July 10th. They issued a “neutral” rating and a $255.00 price objective for the company. BMO Capital Markets cut their target price on Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. Zacks Research lowered Honeywell Aerospace from a “hold” rating to a “strong sell” rating in a research note on Monday, September 14th. Wells Fargo & Company set a $195.00 price target on Honeywell Aerospace in a research report on Monday, August 10th. Finally, Susquehanna began coverage on Honeywell Aerospace in a research note on Thursday. They issued a “positive” rating and a $190.00 price objective on the stock.

Key Honeywell Aerospace News

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Security National Bank of SO Dak bought a new position in shares of Honeywell Aerospace in the second quarter valued at $27,000. HBK Investments L P acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at $5,528,000. Anchor Investment Management LLC acquired a new position in shares of Honeywell Aerospace in the 2nd quarter valued at $93,000. Reynders McVeigh Capital Management LLC purchased a new position in Honeywell Aerospace in the 2nd quarter worth about $885,000. Finally, Cherry Tree Wealth Management LLC purchased a new position in Honeywell Aerospace in the 2nd quarter worth about $28,000.

Honeywell Aerospace Price Performance

Shares of Honeywell Aerospace stock opened at $163.60 on Monday. Honeywell Aerospace has a 1-year low of $149.19 and a 1-year high of $297.50. The firm’s fifty day simple moving average is $178.07. The company has a market cap of $51.85 billion and a P/E ratio of 87.49.

Honeywell Aerospace (NASDAQ:HONA) last announced its earnings results on Monday, June 15th. The company reported $6,340,000.00 earnings per share (EPS) for the quarter. The company had revenue of $4.35 billion during the quarter. Equities research analysts predict 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.