Corda Investment Management Bets Big on Honeywell Aerospace with $11.6 Million Bet

Corda Investment Management LLC has made a new investment in Honeywell Aerospace (NASDAQ:HONA). The fund purchased 51,841 shares of the company's stock in the second quarter, valued at approximately $11,607,000.

This is not an isolated case; several other hedge funds have also modified their holdings of Honeywell Aerospace recently. Hardy Reed LLC acquired a new stake worth $1,151,000, while Plan Group Financial LLC purchased 270,000 shares in the second quarter.

Wall Street analysts have been weighing in on HONA's performance. Melius Research upgraded the stock to 'strong-buy' in June, while UBS Group cut its price objective from $231.00 to $213.00 and set a 'neutral' rating for the company.

Honeywell Aerospace has seen a 52-week low of $150.03 and a high of $297.50, with an average target price of $224.17 among analysts. The firm's market cap stands at $52.73 billion, with a P/E ratio of 88.96.