Honeywell Aerospace Receives $16.5 Million Investment from Allworth Financial LP
Financial services firm Allworth Financial LP has made a significant investment in Honeywell Aerospace (NASDAQ:HONA) by purchasing 74,489 shares of its stock during the second quarter.
The acquisition is valued at approximately $16.5 million and represents a new stake for Allworth Financial LP.
This move follows recent upgrades to Honeywell Aerospace's stock by Morgan Stanley, which upgraded the company from Equal-weight to Overweight and maintained a price target of $205.
Analyst Kristine Liwag noted that the recent selloff has created an attractive entry point, implying substantial upside from current levels.