Van ECK Associates Corp Makes New $30.11 Million Investment in Honeywell Aerospace $HONA

Van ECK Associates Corp purchased a new position in shares of Honeywell Aerospace (NASDAQ:HONA) during the second quarter, Holdings Channel.com reports. The fund purchased 136,199 shares of the company’s stock, valued at approximately $30,111,000.

Several other hedge funds have also recently modified their holdings of HONA. Bell Investment Advisors Inc acquired a new stake in Honeywell Aerospace in the 2nd quarter worth approximately $29,000. Strategic Wealth Advisors LLC acquired a new position in Honeywell Aerospace during the 2nd quarter valued at approximately $29,000. Meeder Asset Management Inc. acquired a new position in Honeywell Aerospace during the 2nd quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Honeywell Aerospace in the second quarter worth $40,000. Finally, Gables Capital Management Inc. acquired a new stake in shares of Honeywell Aerospace during the second quarter worth $47,000.

Honeywell Aerospace Price Performance

HONA stock opened at $162.37 on Monday. The stock has a market cap of $51.46 billion and a P/E ratio of 86.83. Honeywell Aerospace has a 12 month low of $150.03 and a 12 month high of $297.50. The company has a fifty day simple moving average of $195.14.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HONA shares. Argus initiated coverage on shares of Honeywell Aerospace in a report on Thursday, July 9th. They set a “buy” rating and a $275.00 price objective on the stock. BMO Capital Markets lowered their price target 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. Evercore set a $210.00 price target on Honeywell Aerospace in a research note on Thursday, August 6th. Zacks Research raised Honeywell Aerospace to a “hold” rating in a report on Wednesday, July 1st. Finally, Vertical Research started coverage on Honeywell Aerospace in a research note on Wednesday, July 1st. They issued a “hold” rating and a $243.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Honeywell Aerospace presently has a consensus rating of “Hold” and an average target price of $224.17.

About Honeywell Aerospace

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.