# Honeywell Aerospace Inc. (HONA)

> Source: Nexqual · https://nexqual.com/HONA · data as of 2026-10-23 17:27 UTC · cite as "Nexqual, Honeywell Aerospace Inc. (HONA), nexqual.com/HONA" · informational, not investment advice.

**Price:** USD 166.57 (+2.18% today) · US market open, as of October 23, 2026 at 17:27 UTC; quotes may be delayed. Prev close 163.02 · day 155.54–167.37 · 52w 149.19–297.5 · market cap $52.8B · NMS

## Key facts
- 2 of 80 tracked superinvestors hold HONA (13F, Q2 2026): 2 new, 0 added, 0 reduced, 0 unchanged.
- Analysts: Hold (mean 2.53 on a 1–5 scale) (17 analysts), mean target USD 199.2 (range 160–256).
- Total return with dividends: 1Y -16.7% vs S&P 500 +14.4%; 5Y -37.8% vs S&P 500 +77.0%.
- Next earnings: 2026-10-28, EPS estimate USD 1.87, revenue estimate $4.58B.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
 · Net debt $14.8B · EV $67.6B

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold HONA. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mairs & Power | Mairs & Power Funds | 0.20% | $22.1M | New position |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $886K | New position |

## Analysts
Consensus Hold (mean 2.53 on a 1–5 scale), 17 analysts; mean target USD 199.2 (low 160, high 256).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | RBC Capital | Target lowered | Outperform | $250 → $210 |
| 2026-10-09 | TD Cowen | Target lowered | Hold | $180 → $170 |
| 2026-10-07 | Goldman Sachs | Initiated | Neutral | $190 |
| 2026-09-17 | Susquehanna | Initiated | Positive | $190 |
| 2026-08-19 | Morgan Stanley | Upgrade | Equal-Weight → Overweight | $205 |
| 2026-08-10 | BMO Capital | Target lowered | Outperform | $276 → $209 |
| 2026-08-06 | UBS | Target lowered | Neutral | $231 → $213 |
| 2026-08-06 | BNP Paribas | Target lowered | Neutral | $245 → $210 |
| 2026-08-06 | RBC Capital | Target lowered | Outperform | $300 → $250 |
| 2026-08-06 | Evercore ISI Group | Target lowered | In-Line | $250 → $210 |
| 2026-07-20 | UBS | Initiated | Neutral | $231 |
| 2026-07-13 | Evercore ISI Group | Initiated | In-Line | $250 |

## Total return (dividends reinvested)
|  | 1Y (from 2026-06-15) | 5Y (from 2026-06-15) |
|---|---|---|
| Total return | -16.7% | -37.8% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | — | — |
| Volatility (annualized) | 82.8% | 55.0% |
| Max drawdown | -43.9% (Jun 2026→Sep 2026) | -42.3% (Jun 2026→Sep 2026) |

## Peers (Aerospace & Defense)
LHX (L3Harris Technologies, Inc.) USD 251.94 -0.90% · TDG (Transdigm Group Incorporated) USD 1,097.36 -3.89% · HEI (Heico Corporation) USD 297.66 -0.79% · HWM (Howmet Aerospace Inc.) USD 185.36 -4.10% · NOC (Northrop Grumman Corporation) USD 549.25 -0.56% · ESLT (Elbit Systems Ltd.) USD 735.13 -1.09%

## More
Full page: https://nexqual.com/HONA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Electronic Solutions | $1.77B | 39.2% | +7.8% | $459.0M | 25.9% |
| Engines & Power Systems | $1.41B | 31.1% | +1.2% | $174.0M | 12.4% |
| Control Systems | $1.34B | 29.7% | +7.0% | $389.0M | 29.0% |
| Total revenue | $4.52B | 100% | — | $995.0M | 22.0% |

## Revenue by product line (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product sales | $2.61B | 57.7% | +7.7% |
| Commercial Aftermarket | $2.03B | 44.8% | +7.7% |
| Service sales | $1.91B | 42.3% | +2.5% |
| Defense and Space | $1.82B | 40.2% | +2.8% |
| Commercial Original Equipment | $679.0M | 15.0% | +6.1% |
| Total revenue | $4.52B | 100% | — |
The lines above cover 200% of total revenue.

## Company outlook (8-K filed 2026-08-05)

- "SURF-A is a prime example of the retrofit, modification and upgrade (RMU) growth strategy. ◦ Civitanavi Systems' ARGO 4000 inertial measurement has become a preferred solution for European OEMs integrating guidance capability into missile programs, unmanned platforms, maritime vessels and land vehicles."
- "($ in millions) 2Q 2026 2Q 2025 % Change Commercial Original Equipment $679 $640 6% Commercial Aftermarket $2,026 $1,881 8% Defense and Space $ 1,817 $1,768 3% 2026 outlook Based on second quarter results and current business trends, Honeywell Aerospace updated its prior full-year and second half guidance ranges."
- "Previous guidance Current guidance Organic 1 growth 7% - 9% 4% - 5% Pro forma standalone adjusted EBIT 1,3 $4.65B - $4.75B $4.35B - $4.45B Year-over-year growth 1,3 7% - 10% Flat - 3% Pro forma standalone adjusted earnings per share 2,3 $7.60 - $7.90 Second half free cash flow 1 $1.0B - $1.5B $1.0B - $1.5B 1."
- "($ in millions) 2Q 2026 2Q 2025 % Change % Organic Sales $1,342 $1,254 7% 7% Segment profit/segment adjusted EBIT 1 $389 $361 8% Conference call details Honeywell Aerospace will discuss its second quarter results and full-year 2026 guidance during an investor conference call starting at 5:00 pm EDT today."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.87 | $2.29 | -18.5% | $4.58B | 14 |
| Next quarter (ends 2026-12-31) | $2.20 | $2.49 | -11.9% | $4.94B | 13 |
| Current fiscal year (ends 2027-01-31) | $6.65 | $8.34 | -20.3% | $18.37B | 8 |
| Next fiscal year (ends 2027-12-31) | $8.92 | $9.97 | -10.6% | $19.81B | 14 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-28): ±11.3%; last 2 reports averaged ±13.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 50.1% | ±11.3% |
| 2026-12-18 | 56 | 45.5% | ±14.4% |
| 2027-01-15 | 84 | 43.0% | ±16.6% |
| 2027-03-19 | 147 | 42.7% | ±21.6% |
| 2027-06-17 | 237 | 42.4% | ±27.1% |