Ironvine Capital Partners LLC Makes New $11.14 Million Investment in Honeywell Aerospace $HONA

Ironvine Capital Partners LLC acquired a new position in Honeywell Aerospace (NASDAQ:HONA) in the second quarter, HoldingsChannel reports. The firm acquired 43,534 shares of the company’s stock, valued at approximately $11,145,000. Honeywell Aerospace comprises about 1.0% of Ironvine Capital Partners LLC’s holdings, making the stock its 27th largest position.

A number of other institutional investors also recently made changes to their positions in HONA. Bell Investment Advisors Inc bought a new position in shares of Honeywell Aerospace during the 2nd quarter valued at $29,000. Meeder Asset Management Inc. bought a new stake in Honeywell Aerospace in the second quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Honeywell Aerospace in the second quarter worth $40,000. Triumph Capital Management purchased a new stake in Honeywell Aerospace during the second quarter valued at about $43,000. Finally, Gables Capital Management Inc. purchased a new stake in Honeywell Aerospace during the second quarter valued at about $47,000.

Honeywell Aerospace Trading Down 2.4%

NASDAQ HONA opened at $154.24 on Wednesday. Honeywell Aerospace has a fifty-two week low of $150.03 and a fifty-two week high of $297.50. The stock has a 50 day simple moving average of $193.40. The stock has a market cap of $48.89 billion and a PE ratio of 82.48.

Honeywell Aerospace (NASDAQ:HONA) last announced its earnings results on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The business had revenue of $4.35 billion for the quarter. Equities analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HONA. Wall Street Zen upgraded Honeywell Aerospace to a “hold” rating in a report on Sunday, July 12th. TD Cowen assumed coverage on Honeywell Aerospace in a report on Monday, June 29th. They set a “hold” rating and a $250.00 target price for the company. BMO Capital Markets reduced their price target on Honeywell Aerospace from $276.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Argus started coverage on Honeywell Aerospace in a research note on Thursday, July 9th. They issued a “buy” rating and a $275.00 price target on the stock. Finally, BNP Paribas Exane lowered their price objective on Honeywell Aerospace from $245.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Honeywell Aerospace currently has an average rating of “Hold” and a consensus 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.