Honeywell Aerospace (NASDAQ:HONA) Stock Price Down 2.1% – Here’s Why

Honeywell Aerospace (NASDAQ:HONA) shares were down 2.1% on Friday . The company traded as low as $162.00 and last traded at $163.60. Approximately 13,228,915 shares changed hands during trading, an increase of 249% from the average daily volume of 3,794,249 shares. The stock had previously closed at $167.13.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company set a $195.00 target price on Honeywell Aerospace in a research note on Monday, August 10th. Royal Bank Of Canada cut their target price on Honeywell Aerospace from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Vertical Research started coverage on Honeywell Aerospace in a research report on Wednesday, July 1st. They issued a “hold” rating and a $243.00 price target for the company. Argus began coverage on shares of Honeywell Aerospace in a research report on Thursday, July 9th. They set a “buy” rating and a $275.00 price objective on the stock. Finally, Jefferies Financial Group set a $175.00 target price on shares of Honeywell Aerospace in a report on Sunday, August 9th. Six 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. According to MarketBeat.com, Honeywell Aerospace has a consensus rating of “Hold” and an average price target of $219.29.

Honeywell Aerospace Stock Down 2.1%

The stock has a fifty day moving average price of $179.21. The firm has a market cap of $51.85 billion and a P/E ratio of 87.49.

Honeywell Aerospace (NASDAQ:HONA) last announced 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. As a group, analysts forecast that Honeywell Aerospace will post 7.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Honeywell Aerospace

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