Honeywell Aerospace Stock Plunges 2.5% Amid Trading Volume Decline
Honeywell Aerospace (NASDAQ:HONA) saw its share price drop by 2.5% on Wednesday, with the company trading as low as $150.97 and closing at $151.58. A total of 3,072,402 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 3,590,958 shares.
The company's stock had previously closed at $155.42. Wall Street analysts have been following Honeywell Aerospace closely, with several firms issuing price targets and ratings in recent weeks. Evercore set a target price of $210.00 on the company, while BMO Capital Markets cut its target from $276.00 to $209.00.
Honeywell Aerospace has a market capitalization of $48.04 billion and a price-to-earnings ratio of 81.06. The company reported earnings per share of $6,340,000.00 for the quarter ended June 15th, with revenue of $4.35 billion.
Analysts predict that Honeywell Aerospace will post 7.75 earnings per share for the current year. Several institutional investors have recently modified their holdings of the company, including California State Teachers Retirement System and BlackRock Inc.