Honeywell Aerospace (NASDAQ:HONA) Stock Price Down 2.5% – Time to Sell?

Honeywell Aerospace (NASDAQ:HONA) shares fell 2.5% during trading on Wednesday . The stock traded as low as $150.97 and last traded at $151.58. 3,072,402 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 3,590,958 shares. The stock had previously closed at $155.42.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wolfe Research began coverage on shares of Honeywell Aerospace in a report on Monday, June 29th. They issued a “hold” rating on the stock. Melius Research raised Honeywell Aerospace to a “strong-buy” rating in a research report on Monday, June 29th. UBS Group dropped their price target on Honeywell Aerospace from $231.00 to $213.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. Evercore set a $210.00 price objective on Honeywell Aerospace in a report on Thursday, August 6th. Finally, Zacks Research raised shares of 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 issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Honeywell Aerospace has an average rating of “Hold” and a consensus price target of $224.17.

Honeywell Aerospace Price Performance

The business’s fifty day simple moving average is $189.76. The company has a market cap of $48.04 billion and a PE ratio of 81.06.

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

Institutional Investors Weigh In On Honeywell Aerospace

A number of large investors have recently added to or reduced their stakes in the company. Ironvine Capital Partners LLC bought a new stake in Honeywell Aerospace in the second quarter valued at about $10,452,000. California State Teachers Retirement System acquired a new stake in Honeywell Aerospace during the second quarter valued at approximately $24,053,526,000. SFE Investment Counsel bought a new position in Honeywell Aerospace during the 2nd quarter worth approximately $2,981,000. Werlinich Asset Management LLC bought a new position in Honeywell Aerospace during the 2nd quarter worth approximately $1,478,000. Finally, MidFirst Bank acquired a new position in shares of Honeywell Aerospace in the 2nd quarter worth approximately $5,608,000.

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.