Honeywell Aerospace (NASDAQ:HONA) Sets New 12-Month Low – Here’s Why

Shares of Honeywell Aerospace (NASDAQ:HONA) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $149.14 and last traded at $150.1590, with a volume of 2,027,377 shares changing hands. The stock had previously closed at $156.39.

Key Honeywell Aerospace News

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

• Positive Sentiment: Zacks Research upgraded Honeywell Aerospace from “strong sell” to “hold,” a modestly improved view of the stock. TickerReport article
• Negative Sentiment: Several law firms reiterated that investors who bought HONA during the class period may seek lead-plaintiff status by November 23. The repeated alerts reflect an ongoing securities lawsuit and may add to uncertainty, although the announcements themselves are not court findings. Robbins Geller announcement
• Negative Sentiment: The lawsuit alleges investors were not told that a small group of constrained suppliers limited hundreds of millions of dollars in revenue output, and that a Justice Department False Claims Act inquiry was pending. If substantiated, these claims could raise concerns about disclosure practices, revenue execution, and potential legal exposure. SueWallSt announcement

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HONA shares. BNP Paribas Exane reduced their price objective on Honeywell Aerospace from $210.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. JPMorgan Chase & Co. reduced their price target on shares of Honeywell Aerospace from $235.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, October 29th. Royal Bank Of Canada reduced their price target on shares of Honeywell Aerospace from $250.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Susquehanna started coverage on shares of Honeywell Aerospace in a research note on Thursday, September 17th. They set a “positive” rating and a $190.00 price objective for the company. Finally, Morgan Stanley raised shares of Honeywell Aerospace from an “equal weight” rating to an “overweight” rating and set a $205.00 price objective for the company in a research report on Wednesday, August 19th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Honeywell Aerospace currently has an average rating of “Hold” and an average target price of $196.47.

Honeywell Aerospace Price Performance

The company’s 50-day moving average is $159.70. The firm has a market capitalization of $47.45 billion and a P/E ratio of 80.04.

Honeywell Aerospace (NASDAQ:HONA) last released its quarterly earnings results on Wednesday, October 28th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.31. The company had revenue of $4.64 billion for the quarter. As a group, equities research analysts predict that Honeywell Aerospace will post 7.93 earnings per share for the current fiscal year.

Honeywell Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, November 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HONA. Renasant Bank acquired a new position in shares of Honeywell Aerospace during the third quarter worth approximately $341,000. Confluence Wealth Services Inc. boosted its position in Honeywell Aerospace by 1.4% during the 3rd quarter. Confluence Wealth Services Inc. now owns 5,212 shares of the company’s stock worth $808,000 after acquiring an additional 72 shares during the period. AMG National Trust Bank boosted its position in Honeywell Aerospace by 63.1% during the 3rd quarter. AMG National Trust Bank now owns 8,125 shares of the company’s stock worth $1,259,000 after acquiring an additional 3,143 shares during the period. Moneco Advisors LLC grew its stake in shares of Honeywell Aerospace by 39.7% in the third quarter. Moneco Advisors LLC now owns 7,114 shares of the company’s stock worth $1,102,000 after purchasing an additional 2,020 shares in the last quarter. Finally, Keybank National Association OH grew its stake in shares of Honeywell Aerospace by 7.9% in the third quarter. Keybank National Association OH now owns 277,380 shares of the company’s stock worth $42,986,000 after purchasing an additional 20,359 shares in the last quarter.

About Honeywell Aerospace

Honeywell Aerospace develops and supplies aerospace technologies for commercial aviation, business and general aviation, defense, and space customers. Its portfolio includes aircraft engines and auxiliary power units, avionics, flight controls, navigation and communication systems, environmental and thermal-management equipment, wheels and brakes, and other propulsion and mechanical systems.

The company also provides aftermarket support, including maintenance, repair and overhaul services, replacement parts, upgrades, technical assistance, and digital solutions designed to improve aircraft performance and operational efficiency.