Honeywell Aerospace (NASDAQ:HONA) Trading Down 2.4% – Time to Sell?

Shares of Honeywell Aerospace (NASDAQ:HONA) fell 2.4% during trading on Tuesday . The stock traded as low as $153.63 and last traded at $154.24. 2,537,608 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 3,598,676 shares. The stock had previously closed at $158.11.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HONA shares. Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a research note on Monday, August 10th. Vertical Research began coverage on Honeywell Aerospace in a report on Wednesday, July 1st. They set a “hold” rating and a $243.00 price objective on the stock. UBS Group reduced their price target on shares of Honeywell Aerospace from $231.00 to $213.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. assumed coverage on shares of Honeywell Aerospace in a research report on Friday, July 10th. They set a “neutral” rating and a $255.00 price objective for the company. Finally, Zacks Research upgraded shares of Honeywell Aerospace to a “hold” rating in a report on Wednesday, July 1st. 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. Based on data from MarketBeat, Honeywell Aerospace has a consensus rating of “Hold” and a consensus target price of $224.17.

Honeywell Aerospace Stock Up 2.0%

The stock has a market cap of $49.32 billion and a P/E ratio of 83.21. The business’s fifty day moving average price is $192.52.

Honeywell Aerospace (NASDAQ:HONA) last announced 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. As a group, sell-side analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Honeywell Aerospace

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MLG Wealth Management DBA Pine Grove Financial Group bought a new position in Honeywell Aerospace in the 2nd quarter worth about $426,000. Allianz Asset Management GmbH bought a new stake in shares of Honeywell Aerospace during the second quarter valued at approximately $9,121,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Honeywell Aerospace in the second quarter valued at approximately $1,819,000. Corient Private Wealth LP purchased a new stake in shares of Honeywell Aerospace in the second quarter valued at approximately $49,860,000. Finally, Tucker Asset Management LLC bought a new position in Honeywell Aerospace in the second quarter worth approximately $200,000.

Honeywell Aerospace Company 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.