Honeywell Aerospace Sees Institutional Buying Amid Upgrade to Overweight
Silvant Capital Management LLC has acquired a new stake in Honeywell Aerospace (NASDAQ:HONA), according to its most recent SEC filing. The firm purchased 57,025 shares of the company's stock during the second quarter, valued at approximately $12,768,000.
This is not an isolated instance, as several other institutional investors and hedge funds have also made changes to their positions in HONA. Meeder Asset Management Inc., Bell Investment Advisors Inc., Strategic Wealth Advisors LLC, Mowery & Schoenfeld Wealth Management LLC, and Gables Capital Management Inc. all acquired new stakes in the company during the second quarter.
The stock's performance has been influenced by recent upgrades from Morgan Stanley, who raised their price target to $205. Analyst Kristine Liwag argued that the recent selloff created an attractive entry point, implying substantial upside from current levels.