Honeywell Aerospace (NASDAQ:HONA) Sees Large Decline in Short Interest

Honeywell Aerospace (NASDAQ:HONA) was the recipient of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 5,842,017 shares, a decline of 32.9% from the July 30th total of 8,708,127 shares. Based on an average daily volume of 5,721,340 shares, the short-interest ratio is currently 1.0 days. Approximately 1.8% of the company’s shares are short sold.

Honeywell Aerospace Price Performance

Shares of NASDAQ HONA opened at $152.55 on Thursday. Honeywell Aerospace has a fifty-two week low of $150.03 and a fifty-two week high of $297.50. The firm has a market capitalization of $48.35 billion and a price-to-earnings ratio of 81.58. The firm has a 50 day simple moving average of $192.52.

Honeywell Aerospace (NASDAQ:HONA) last released 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 research analysts anticipate that Honeywell Aerospace will post 7.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Honeywell Aerospace

A number of institutional investors have recently made changes to their positions in the stock. Ironvine Capital Partners LLC acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter valued at approximately $10,452,000. SFE Investment Counsel acquired a new position in Honeywell Aerospace during the second quarter valued at approximately $2,981,000. MidFirst Bank bought a new stake in Honeywell Aerospace in the second quarter valued at approximately $5,608,000. Nwam LLC bought a new stake in Honeywell Aerospace in the second quarter valued at approximately $3,813,000. Finally, IMC Chicago LLC acquired a new stake in Honeywell Aerospace in the second quarter worth $10,508,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HONA. Royal Bank Of Canada reduced their price objective on Honeywell Aerospace from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Vertical Research began coverage on Honeywell Aerospace in a research report on Wednesday, July 1st. They set a “hold” rating and a $243.00 target price for the company. Argus initiated coverage on Honeywell Aerospace in a research note on Thursday, July 9th. They set a “buy” rating and a $275.00 price target on the stock. Zacks Research upgraded Honeywell Aerospace to a “hold” rating in a report on Wednesday, July 1st. 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 analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.