Honeywell Aerospace (NASDAQ:HONA) Shares Up 3.6% – Time to Buy?

Honeywell Aerospace (NASDAQ:HONA)’s share price rose 3.6% 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 daily volume of 3,616,188 shares. The stock had previously closed at $158.49.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HONA shares. Argus started coverage on Honeywell Aerospace in a report on Thursday, July 9th. They issued a “buy” rating and a $275.00 target price on the stock. Wells Fargo & Company set a $195.00 price target on Honeywell Aerospace in a report on Monday, August 10th. TD Cowen started coverage on Honeywell Aerospace in a report on Monday, June 29th. They set a “hold” rating and a $250.00 price target for the company. UBS Group reduced their price objective on Honeywell Aerospace from $231.00 to $213.00 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Finally, Morgan Stanley raised Honeywell Aerospace from an “equal weight” rating to an “overweight” rating and set a $205.00 price objective on the stock in a report on Wednesday, August 19th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Honeywell Aerospace currently has an average rating of “Hold” and a consensus target price of $221.54.

Honeywell Aerospace Price Performance

The company’s 50-day moving average price is $181.54. The firm has a market cap of $52.04 billion and a PE ratio of 87.80.

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

Institutional Investors Weigh In On Honeywell Aerospace

Several institutional investors have recently made changes to their positions in the company. Ameliora Wealth Management Ltd. bought a new position in Honeywell Aerospace during the 2nd quarter valued at about $25,000. Leo H. Evart Inc. bought a new stake in Honeywell Aerospace in the second quarter worth about $26,000. Outlook Capital Management LLC bought a new stake in Honeywell Aerospace in the second quarter worth about $26,000. Cherry Tree Wealth Management LLC purchased a new position in shares of Honeywell Aerospace during the second quarter valued at approximately $28,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Honeywell Aerospace during the second quarter valued at approximately $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.