Honeywell Aerospace (NASDAQ:HONA) Lowered to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Honeywell Aerospace (NASDAQ:HONA) from a hold rating to a strong sell rating in a report released on Monday,Zacks reports.

A number of other brokerages have also recently issued reports on HONA. Royal Bank Of Canada decreased their price objective on shares of Honeywell Aerospace from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Evercore set a $210.00 target price on Honeywell Aerospace in a report on Thursday, August 6th. JPMorgan Chase & Co. began coverage on Honeywell Aerospace in a research note on Friday, July 10th. They issued a “neutral” rating and a $255.00 price target on the stock. Argus started coverage on Honeywell Aerospace in a report on Thursday, July 9th. They set a “buy” rating and a $275.00 price target for the company. Finally, Melius Research set a $190.00 price target on Honeywell Aerospace in a report on Monday. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $221.54.

Honeywell Aerospace Price Performance

Shares of Honeywell Aerospace stock opened at $158.49 on Monday. Honeywell Aerospace has a 12-month low of $149.19 and a 12-month high of $297.50. The firm has a market capitalization of $50.23 billion and a P/E ratio of 84.75. The business’s 50-day moving average price is $181.54.

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

Hedge Funds Weigh In On Honeywell Aerospace

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new position in shares of Honeywell Aerospace during the second quarter worth $93,000. Reynders McVeigh Capital Management LLC acquired a new stake in Honeywell Aerospace in the second quarter valued at $885,000. Cherry Tree Wealth Management LLC acquired a new stake in Honeywell Aerospace in the second quarter valued at $28,000. Smith Chas P & Associates PA Cpas bought a new position in Honeywell Aerospace during the 2nd quarter worth $203,000. Finally, Marathon Wealth Advisors LLC bought a new position in Honeywell Aerospace during the 2nd quarter worth $1,237,000.

Key Honeywell Aerospace News

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

• Positive Sentiment: Management’s appearance at Morgan Stanley’s Laguna Conference reinforced the investment case around durable aerospace demand, a growing backlog and ongoing supply-chain investments intended to increase production over time. Honeywell Aerospace Presents at Morgan Stanley’s Laguna Conference Transcript
• Positive Sentiment: Investor sentiment had improved after management updates suggested demand remains resilient and supply constraints are being addressed. The company’s recent sales growth and a director’s purchase of 6,400 shares at $156 may have provided additional support. Honeywell Aerospace Gains as Investors Reassess Spin-Off After Management Updates
• Positive Sentiment: A proposed $1.5 trillion U.S. defense budget highlights the favorable long-term spending environment for aerospace and defense suppliers, supporting the bullish case for Honeywell Aerospace. A $1.5 Trillion Defense Budget Is on the Table
• Neutral Sentiment: Honeywell Aerospace has shown relative strength versus the Nasdaq over the past year, while analysts’ median price target remains substantially above the current trading level. However, the broader analyst consensus is still “Hold,” indicating uncertainty about the timing of the recovery. Is Honeywell Aerospace Outperforming the Nasdaq?
• Negative Sentiment: Melius Research downgraded Honeywell Aerospace from “Strong Buy” to “Hold.” The rating change is the clearest near-term pressure on the stock and may be prompting investors to lock in gains or reassess valuation. Honeywell Aerospace Downgrade Report
• Negative Sentiment: The company previously reduced its full-year organic growth outlook to 4%–5% from 7%–9%, despite reporting 5% sales growth. That guidance cut remains an important overhang and helps explain the stock’s recent weakness.

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.