Bright Rock Capital Makes Significant Investment in Honeywell Aerospace

Bright Rock Capital Management LLC has made a significant new investment in Honeywell Aerospace (NASDAQ: HONA), acquiring 56,250 shares during the third quarter. The stake is valued at approximately $8,717,000, making Honeywell Aerospace about 1.6% of Bright Rock's holdings and its 21st largest position.

Other hedge funds have also shown interest in Honeywell Aerospace. Ameliora Wealth Management Ltd., Leo H. Evart Inc., Outlook Capital Management LLC, Security National Bank of SO Dak, and Cherry Tree Wealth Management LLC all purchased new stakes in the company during the second quarter, with values ranging from $25,000 to $28,000.

Analysts have recently weighed in on Honeywell Aerospace with mixed ratings. Royal Bank of Canada lowered its price target to $250.00 but maintained an "outperform" rating. Melius Research set a $190.00 price objective, while Wells Fargo & Company set a $195.00 target. BNP Paribas Exane lowered its target price to $210.00 with a "neutral" rating. Morgan Stanley upgraded the stock to "overweight" with a $205.00 target price. The consensus rating among analysts is currently a "Hold" with an average price target of $219.29.

Honeywell Aerospace's stock traded up $1.00 to $155.63 during mid-day trading on Monday. The company has a market cap of $49.33 billion and a price-to-earnings ratio of 83.28. Its 50-day moving average price is $168.57, with a 12-month low of $149.19 and a high of $297.50. The company reported earnings per share of $6,340,000.00 for the quarter ended June 15th, with revenue of $4.35 billion.