Honeywell Aerospace (NASDAQ:HONA) Shares Down 3.5% – Should You Sell?

Honeywell Aerospace (NASDAQ:HONA) shares were down 3.5% during trading on Tuesday . The stock traded as low as $154.78 and last traded at $155.42. 4,507,779 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 3,581,835 shares. The stock had previously closed at $161.01.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HONA shares. JPMorgan Chase & Co. assumed coverage on Honeywell Aerospace in a research note on Friday, July 10th. They set a “neutral” rating and a $255.00 price objective on the stock. Vertical Research began coverage on shares of Honeywell Aerospace in a report on Wednesday, July 1st. They set a “hold” rating and a $243.00 target price on the stock. Wells Fargo & Company set a $195.00 target price on shares of Honeywell Aerospace in a report on Monday, August 10th. Wall Street Zen upgraded shares of Honeywell Aerospace to a “hold” rating in a research report on Sunday, July 12th. Finally, Jefferies Financial Group set a $175.00 price target on shares of Honeywell Aerospace in a report on Sunday, August 9th. 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. Based on data from MarketBeat, Honeywell Aerospace currently has an average rating of “Hold” and an average target price of $224.17.

Honeywell Aerospace Stock Performance

The company has a market capitalization of $49.26 billion and a price-to-earnings ratio of 83.11. The company has a fifty day moving average of $190.46.

Honeywell Aerospace (NASDAQ:HONA) last issued its quarterly earnings data on Monday, June 15th. The company reported $6,340,000.00 EPS for the quarter. The company had revenue of $4.35 billion for the quarter. Research analysts expect that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Hedge Funds Weigh In On Honeywell Aerospace

Institutional investors have recently modified their holdings of the company. Nykredit A S acquired a new stake in shares of Honeywell Aerospace in the 2nd quarter worth about $16,634,000. Parkside Financial Bank & Trust acquired a new position in Honeywell Aerospace during the 2nd quarter valued at about $448,000. MLG Wealth Management DBA Pine Grove Financial Group acquired a new position in Honeywell Aerospace during the 2nd quarter valued at about $426,000. Allianz Asset Management GmbH bought a new position in Honeywell Aerospace in the 2nd quarter worth about $9,121,000. Finally, Brown Lisle Cummings Inc. bought a new position in Honeywell Aerospace in the 2nd quarter worth about $1,819,000.

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.