Van ECK Associates Corp Invests $30.11 Million in Honeywell Aerospace $HONA

Van ECK Associates Corp purchased a new stake in Honeywell Aerospace (NASDAQ:HONA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 136,199 shares of the company’s stock, valued at approximately $30,111,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Honeywell Aerospace during the 2nd quarter worth $5,253,341,000. Wellington Management Group LLP bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth $1,705,882,000. Bank of America Corp DE bought a new position in shares of Honeywell Aerospace during the 2nd quarter worth $1,034,187,000. Bank of New York Mellon Corp purchased a new position in shares of Honeywell Aerospace during the second quarter valued at $644,412,000. Finally, Legal & General Group Plc purchased a new position in shares of Honeywell Aerospace during the second quarter valued at $370,665,000.

Honeywell Aerospace Price Performance

Shares of Honeywell Aerospace stock opened at $162.37 on Monday. The company has a market capitalization of $51.46 billion and a P/E ratio of 86.83. The business has a 50-day moving average price of $195.14. Honeywell Aerospace has a one year low of $150.03 and a one year high of $297.50.

Honeywell Aerospace (NASDAQ:HONA) last issued its quarterly earnings data on Monday, June 15th. The company reported $6,340,000.00 earnings per share (EPS) for the quarter. The firm had revenue of $4.35 billion during the quarter. On average, equities research analysts predict that Honeywell Aerospace will post 7.75 EPS for the current year.

Wall Street Analysts Forecast Growth

HONA has been the subject of a number of research reports. BMO Capital Markets lowered their price objective on shares of Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Vertical Research assumed coverage on shares of Honeywell Aerospace in a report on Wednesday, July 1st. They issued a “hold” rating and a $243.00 price target for the company. Zacks Research raised shares of Honeywell Aerospace to a “hold” rating in a research report on Wednesday, July 1st. 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 on the stock. Finally, Morgan Stanley raised shares of Honeywell Aerospace from an “equal weight” rating to an “overweight” rating and set a $205.00 price objective for the company in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $224.17.

Honeywell Aerospace 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.