Redwood Investment Management LLC Acquires Shares of 3,419 Honeywell Aerospace $HONA

Redwood Investment Management LLC acquired a new stake in Honeywell Aerospace (NASDAQ:HONA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,419 shares of the company’s stock, valued at approximately $756,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bell Investment Advisors Inc bought a new stake in Honeywell Aerospace in the 2nd quarter valued at $29,000. Meeder Asset Management Inc. bought a new position in Honeywell Aerospace during the second quarter worth $29,000. Strategic Wealth Advisors LLC bought a new position in Honeywell Aerospace during the second quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Honeywell Aerospace in the second quarter valued at $40,000. Finally, Gables Capital Management Inc. acquired a new position in shares of Honeywell Aerospace in the second quarter valued at $47,000.

Honeywell Aerospace Stock Down 2.0%

HONA stock opened at $160.75 on Friday. The company has a market cap of $50.95 billion and a PE ratio of 85.96. The stock’s fifty day moving average price is $195.92. Honeywell Aerospace has a fifty-two week low of $150.03 and a fifty-two week high of $297.50.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on HONA shares. BMO Capital Markets cut their target price 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 started coverage on shares of Honeywell Aerospace in a research note on Wednesday, July 1st. They issued a “hold” rating and a $243.00 price target on the stock. Morgan Stanley raised shares of Honeywell Aerospace from an “equal weight” rating to an “overweight” rating and set a $205.00 price target on the stock in a report on Wednesday, August 19th. Royal Bank Of Canada cut their price objective on shares of Honeywell Aerospace from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, Melius Research upgraded Honeywell Aerospace to a “strong-buy” rating in a report on Monday, June 29th. 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. Based on data from MarketBeat.com, Honeywell Aerospace currently has a consensus rating of “Hold” and an average 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.