Honeywell Aerospace (NASDAQ:HONA) Downgraded by Melius Research to Hold

Honeywell Aerospace (NASDAQ:HONA) was downgraded by analysts at Melius Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen raised Honeywell Aerospace to a “hold” rating in a research note on Sunday, July 12th. Argus initiated coverage on shares of Honeywell Aerospace in a research report on Thursday, July 9th. They set a “buy” rating and a $275.00 price objective for the company. Zacks Research raised Honeywell Aerospace to a “hold” rating in a report on Wednesday, July 1st. Morgan Stanley raised Honeywell Aerospace from an “equal weight” rating to an “overweight” rating and set a $205.00 price target for the company in a report on Wednesday, August 19th. Finally, Evercore set a $210.00 price objective on Honeywell Aerospace in a research report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $221.54.

Honeywell Aerospace Price Performance

Shares of HONA stock opened at $164.08 on Monday. The firm has a 50 day simple moving average of $183.13. The stock has a market cap of $52.01 billion and a PE ratio of 87.74. Honeywell Aerospace has a 52 week low of $149.19 and a 52 week high of $297.50.

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

Institutional Trading of Honeywell Aerospace

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameliora Wealth Management Ltd. purchased a new position in shares of Honeywell Aerospace in the 2nd quarter valued at approximately $25,000. Leo H. Evart Inc. acquired a new position in shares of Honeywell Aerospace in the second quarter valued at approximately $26,000. Outlook Capital Management LLC purchased a new stake in shares of Honeywell Aerospace during the second quarter worth approximately $26,000. Meeder Asset Management Inc. purchased a new stake in shares of Honeywell Aerospace during the second quarter worth approximately $29,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of Honeywell Aerospace during the second quarter worth $29,000.

About Honeywell Aerospace

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.