Covington Investment Advisors Inc. Buys into Honeywell Aerospace

Covington Investment Advisors Inc., an investment firm, acquired a new stake in Honeywell Aerospace's stock during the second quarter. According to the company's most recent 13F filing with the Securities and Exchange Commission, Covington purchased 17,262 shares of Honeywell Aerospace's stock, valued at approximately $4,419,000.

This is not an isolated instance; several other hedge funds also made changes to their positions in Honeywell Aerospace during the second quarter. Hardy Reed LLC acquired a new stake worth around $1,151,000, while Plan Group Financial LLC purchased shares valued at about $270,000. Mill Capital Management LLC and Bryn Mawr Trust Advisors LLC each acquired new positions, with values of approximately $419,000 and $1,301,000 respectively. Additionally, Oppenheimer Asset Management Inc. bought a significant stake worth $8,809,000.

Equities research analysts have provided various ratings for Honeywell Aerospace's stock. Melius Research upgraded the company to a 'strong-buy' rating in June, while Vertical Research initiated coverage with a 'hold' rating and a $243 target price. Wall Street Zen raised Honeywell Aerospace to a 'hold' rating, and JPMorgan Chase & Co. assumed coverage with a 'neutral' rating and a $255 target price.