Honeywell Aerospace (NASDAQ:HONA) Trading 3.6% Higher – Time to Buy?

Shares of Honeywell Aerospace (NASDAQ:HONA) shot up 3.6% during mid-day trading on Wednesday . The company traded as high as $166.21 and last traded at $164.18. Approximately 4,577,229 shares changed hands during trading, an increase of 27% from the average session volume of 3,616,188 shares. The stock had previously closed at $158.49.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HONA shares. BNP Paribas Exane reduced their target price on Honeywell Aerospace from $245.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. BMO Capital Markets reduced their price target on shares of Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, August 10th. TD Cowen assumed coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They set a “hold” rating and a $250.00 price objective for the company. Wolfe Research initiated coverage on shares of Honeywell Aerospace in a research note on Monday, June 29th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of Honeywell Aerospace in a research note on Friday, July 10th. They set a “neutral” rating and a $255.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Honeywell Aerospace presently has a consensus rating of “Hold” and an average target price of $221.54.

Honeywell Aerospace Price Performance

The business has a fifty day moving average price of $181.54. The firm has a market cap of $52.04 billion and a P/E ratio of 87.80.

Honeywell Aerospace (NASDAQ:HONA) last posted 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 during the quarter. As a group, sell-side analysts anticipate that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Honeywell Aerospace

A number of hedge funds and other institutional investors have recently bought and sold shares of HONA. Ameliora Wealth Management Ltd. acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter worth $25,000. Leo H. Evart Inc. acquired a new position in Honeywell Aerospace during the 2nd quarter valued at about $26,000. Outlook Capital Management LLC acquired a new position in Honeywell Aerospace during the 2nd quarter valued at about $26,000. Cherry Tree Wealth Management LLC purchased a new stake in Honeywell Aerospace in the second quarter valued at about $28,000. Finally, Meeder Asset Management Inc. purchased a new stake in Honeywell Aerospace in the second quarter valued at about $29,000.

Honeywell Aerospace Company Profile

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.