Ferguson Wellman Trims Honeywell Aerospace Stake by 84.5%

Ferguson Wellman Capital Management Inc. significantly reduced its stake in Honeywell Aerospace (NASDAQ:HONA) during the third quarter, cutting its holdings by 84.5%. The firm sold 251,221 shares, leaving it with 46,016 shares valued at $7,131,000 according to its latest SEC filing.

Other institutional investors have made substantial moves involving Honeywell Aerospace. BlackRock Inc. acquired a new stake worth $5.25 billion in the second quarter, while State Street Corp invested $2.95 billion. Wellington Management Group LLP and Bank of America Corp DE also purchased significant positions during the same period.

Analysts have offered mixed views on Honeywell Aerospace. Argus initiated coverage with a "buy" rating and a $275 price target, while Melius Research set a $190 target. Morgan Stanley upgraded the stock to "overweight" with a $205 target. The stock currently has a consensus "hold" rating with an average price target of $219.29.

Shares of Honeywell Aerospace rose 0.8% to $155.85 on Monday, with a trading volume of 783,993 shares. The company reported $6.34 million in earnings per share for the quarter ending June 15, with revenue of $4.35 billion.