Mitsubishi UFJ Asset Management Co. Ltd. Buys New Stake in Honeywell Aerospace $HONA

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Honeywell Aerospace (NASDAQ:HONA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 929,982 shares of the company’s stock, valued at approximately $208,204,000.

A number of other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Honeywell Aerospace during the second quarter worth $644,412,000. CORDA Investment Management LLC. purchased a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at $11,607,000. IMC Chicago LLC acquired a new position in Honeywell Aerospace during the 2nd quarter worth about $10,508,000. Oppenheimer Asset Management Inc. acquired a new position in Honeywell Aerospace during the 2nd quarter worth about $8,809,000. Finally, Baxter Bros Inc. purchased a new position in Honeywell Aerospace during the 2nd quarter valued at about $5,018,000.

Honeywell Aerospace Stock Down 2.9%

HONA opened at $161.56 on Tuesday. Honeywell Aerospace has a 12 month low of $150.03 and a 12 month high of $297.50. The firm has a market cap of $51.21 billion and a P/E ratio of 86.40.

Honeywell Aerospace (NASDAQ:HONA) last posted its quarterly 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. As a group, research analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Vertical Research initiated coverage on Honeywell Aerospace in a research report on Wednesday, July 1st. They issued a “hold” rating and a $243.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Honeywell Aerospace in a research report on Friday, July 10th. They set a “neutral” rating and a $255.00 price target on the stock. Melius Research raised shares of Honeywell Aerospace to a “strong-buy” rating in a research note on Monday, June 29th. Argus started coverage on shares of Honeywell Aerospace in a report on Thursday, July 9th. They issued a “buy” rating and a $275.00 price objective for the company. Finally, Morgan Stanley set a $205.00 target price on shares of Honeywell Aerospace in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Honeywell Aerospace currently 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.