Honeywell Aerospace (NASDAQ:HONA) Rating Increased to Strong-Buy at Susquehanna

Susquehanna upgraded shares of Honeywell Aerospace (NASDAQ:HONA) to a strong-buy rating in a research note issued to investors on Thursday,Zacks reports.

HONA has been the topic of several other research reports. Morgan Stanley upgraded Honeywell Aerospace from an “equal weight” rating to an “overweight” rating and set a $205.00 price target on the stock in a research note on Wednesday, August 19th. TD Cowen began coverage on Honeywell Aerospace in a research note on Monday, June 29th. They issued a “hold” rating and a $250.00 price objective for the company. Wolfe Research started coverage on Honeywell Aerospace in a research note on Monday, June 29th. They issued a “hold” rating for the company. Evercore set a $210.00 target price on Honeywell Aerospace in a report on Thursday, August 6th. Finally, Jefferies Financial Group set a $175.00 target price on Honeywell Aerospace in a research report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Honeywell Aerospace presently has a consensus rating of “Hold” and a consensus target price of $219.29.

Honeywell Aerospace Trading Down 2.1%

NASDAQ HONA opened at $163.60 on Thursday. Honeywell Aerospace has a 12-month low of $149.19 and a 12-month high of $297.50. The business has a fifty day moving average of $178.07. The stock has a market capitalization of $51.85 billion and a PE ratio of 87.49.

Honeywell Aerospace (NASDAQ:HONA) last announced its quarterly earnings data 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 for the quarter. On average, sell-side analysts forecast that Honeywell Aerospace will post 7.75 earnings per share for the current year.

Institutional Investors Weigh In On Honeywell Aerospace

Several hedge funds have recently added to or reduced their stakes in HONA. Ameliora Wealth Management Ltd. purchased a new position in shares of Honeywell Aerospace during the 2nd quarter valued at about $25,000. Leo H. Evart Inc. purchased a new stake in shares of Honeywell Aerospace in the second quarter worth about $26,000. Outlook Capital Management LLC acquired a new stake in Honeywell Aerospace during the second quarter worth about $26,000. Security National Bank of SO Dak acquired a new stake in Honeywell Aerospace during the second quarter worth about $27,000. Finally, Cherry Tree Wealth Management LLC purchased a new position in Honeywell Aerospace during the second quarter valued at approximately $28,000.

Trending Headlines about Honeywell Aerospace

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

• Positive Sentiment: Susquehanna initiated coverage of Honeywell Aerospace with a positive rating, providing new analyst support for the stock and signaling confidence in its aerospace-market outlook. Susquehanna Initiates Coverage of Honeywell Aerospace at Positive
• Positive Sentiment: A bullish Seeking Alpha analysis argued that Honeywell Aerospace’s current headwinds should be temporary, supporting the case that production growth, demand and longer-term fundamentals could improve. Honeywell Aerospace: Strong Buy As Headwinds Should Be Temporary
• Positive Sentiment: Saudi Arabia’s potential $5.75 billion in arms purchases could benefit aerospace and defense suppliers, including Honeywell Aerospace, although the company’s actual share of any contracts remains uncertain. Saudi Arabia’s $5.75 Billion Potential Arms Sales
• Neutral Sentiment: CEO Jim Currier called GE Aerospace’s planned $11.75 billion acquisition of Consolidated Precision Products positive for the broader industry. However, Honeywell does not directly compete with CPP, and persistent aerospace supply constraints remain a concern. Honeywell CEO Calls GE-CPP Deal Positive Amid Persistent Supply Constraints
• Negative Sentiment: A recent analyst downgrade pressured the shares and likely heightened concerns about valuation, near-term growth or aerospace supply-chain execution. Honeywell Aerospace Stock Price Down After Analyst Downgrade
• Negative Sentiment: Jim Cramer said he could not “counsel owning” Honeywell Aerospace, adding prominent negative commentary and reinforcing short-term investor caution. Jim Cramer Says He Can’t Counsel Owning Honeywell Aerospace

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.