Honeywell Aerospace (NASDAQ:HONA) Stock Price Down 3% – Should You Sell?

Honeywell Aerospace (NASDAQ:HONA)’s share price was down 3% during mid-day trading on Thursday. The stock traded as low as $158.29 and last traded at $158.46. 2,678,341 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 3,801,018 shares. The stock had previously closed at $163.33.

Honeywell Aerospace News Summary

Here are the key news stories impacting Honeywell Aerospace this week:

• Positive Sentiment: Honeywell Aerospace announced maintenance-support work for Garuda Indonesia and an upgrade involving cooling technology for the F-35 program. The developments could support recurring aftermarket revenue and reinforce the company’s position in military aerospace. Honeywell Aerospace lands Garuda maintenance deal and unveils F-35 cooling upgrade

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings started coverage on shares of Honeywell Aerospace in a report on Friday, September 11th. They issued a “sell (d)” rating for the company. Susquehanna assumed coverage on Honeywell Aerospace in a research note on Thursday, September 17th. They issued a “positive” rating and a $190.00 price target on the stock. Wells Fargo & Company set a $195.00 price objective on shares of Honeywell Aerospace in a research note on Monday, August 10th. JPMorgan Chase & Co. started coverage on Honeywell Aerospace in a report on Friday, July 10th. They set a “neutral” rating and a $255.00 price objective for the company. Finally, Evercore set a $210.00 target price on shares of Honeywell Aerospace in a research report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $219.29.

Honeywell Aerospace Price Performance

The firm has a 50-day moving average of $175.40. The company has a market capitalization of $50.22 billion and a price-to-earnings ratio of 84.74.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HONA. QRG Capital Management Inc. purchased a new stake in Honeywell Aerospace during the 2nd quarter worth $5,934,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Honeywell Aerospace during the second quarter worth about $3,693,000. State Street Corp purchased a new stake in shares of Honeywell Aerospace in the second quarter worth about $2,945,044,000. Security National Bank of SO Dak purchased a new stake in shares of Honeywell Aerospace in the second quarter worth about $27,000. Finally, HBK Investments L P purchased a new stake in shares of Honeywell Aerospace during the 2nd quarter valued at about $5,528,000.

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.