Honeywell Aerospace (NASDAQ:HONA) Hits New 12-Month Low – What’s Next?

Shares of Honeywell Aerospace (NASDAQ:HONA) hit a new 52-week low during trading on Thursday . The stock traded as low as $149.19 and last traded at $152.1460, with a volume of 169961 shares trading hands. The stock had previously closed at $151.58.

Analyst Ratings Changes

Several research analysts recently weighed in on HONA shares. Jefferies Financial Group set a $175.00 target price on shares of Honeywell Aerospace in a report on Sunday, August 9th. JPMorgan Chase & Co. initiated coverage on Honeywell Aerospace in a research report on Friday, July 10th. They issued a “neutral” rating and a $255.00 price objective on the stock. BNP Paribas Exane dropped their price objective on Honeywell Aerospace from $245.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Wolfe Research assumed coverage on Honeywell Aerospace in a research report on Monday, June 29th. They set a “hold” rating for the company. Finally, Zacks Research upgraded Honeywell Aerospace to a “hold” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $224.17.

Honeywell Aerospace Trading Up 1.9%

The company has a market cap of $48.96 billion and a PE ratio of 82.89. The firm has a 50-day simple moving average of $188.25.

Honeywell Aerospace (NASDAQ:HONA) last announced its quarterly earnings results 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 during the quarter. On average, equities 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 added to or reduced their stakes in the company. Hardy Reed LLC bought a new stake in Honeywell Aerospace in the 2nd quarter worth approximately $1,151,000. Plan Group Financial LLC bought a new position in shares of Honeywell Aerospace during the 2nd quarter valued at approximately $270,000. Mill Capital Management LLC purchased a new position in shares of Honeywell Aerospace in the second quarter valued at $419,000. Bryn Mawr Trust Advisors LLC purchased a new position in shares of Honeywell Aerospace in the second quarter valued at $1,301,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Honeywell Aerospace in the second quarter worth $8,809,000.

Honeywell Aerospace Company Profile

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.