Honeywell Aerospace Sees Institutional Investment Surge
Several institutional investors have made new purchases of shares in Honeywell Aerospace (NASDAQ:HONA) in the second quarter. Oversea-Chinese Banking Corp Ltd acquired a new position in the company's stock, buying 6,500 shares valued at approximately $1,437,000. This is not an isolated instance, as other major investors such as BlackRock Inc., Bank of New York Mellon Corp, Mitsubishi UFJ Asset Management Co. Ltd., Deutsche Bank AG, and Madison Asset Management LLC have also bought new positions in Honeywell Aerospace.
The company's stock opened at $164.73 on Friday, with a market cap of $52.21 billion and a PE ratio of 88.09. The firm reported EPS of $6,340,000 for the quarter, while revenue was $4.35 billion. Analysts forecast that Honeywell Aerospace will post earnings per share of 7.75 for the current fiscal year.