Honeywell Aerospace (HONA)
Market Price (7/13/2026): $221.0 | Market Cap: $70.0 BilSector: Industrials | Industry: Aerospace & Defense
Honeywell Aerospace (HONA)
Market Price (7/13/2026): $221.0Market Cap: $70.0 BilSector: IndustrialsIndustry: Aerospace & Defense
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Advanced Aviation & Space, and Energy Transition & Decarbonization. Themes include Advanced Air Mobility, Drone Technology, Show more. | Weak multi-year price returns2Y Excs Rtn is -36%, 3Y Excs Rtn is -70% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, and Energy Transition & Decarbonization. Themes include Advanced Air Mobility, Drone Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -36%, 3Y Excs Rtn is -70% |
Qualitative Assessment
AI Analysis | Feedback
Updated on 7/8/2026
Honeywell Aerospace (HONA) stock has remained largely at the same level since it went public on 6/29/2026 because of the following key factors:
1. Initial Price Discovery and Spin-off Churn: Honeywell Aerospace (HONA) began regular-way trading on June 29, 2026, following its spin-off from Honeywell International. The initial days of trading for a newly spun-off entity are inherently characterized by a period of price discovery. For instance, HONA rose approximately 7% intraday on its debut but closed down 0.4% at $220.19 on that same day, on a volume of about 8.5 million shares. This early volatility and subsequent settling around the initial trading range are typical as the market absorbs the new equity and as some funds, which received shares but are unable or unwilling to hold them, engage in "spin-off churn" selling.
2. Neutral-to-Moderate Analyst Sentiment and Consolidated Price Targets: Shortly after its market debut, several Wall Street analysts initiated coverage with predominantly neutral ratings and price targets that have largely converged around the stock's current trading level. For example, Jefferies initiated a Hold rating with a $235.00 price target on June 30, 2026, and Morgan Stanley initiated an Equalweight rating with a $255.00 price target on July 8, 2026. The consensus price target from 9 analysts is $249.83, with a narrow forecasted upside of about 4.91% from the stock's price of $238.14 on July 8, 2026. This suggests that the market's initial valuation is well-defined by early analyst expectations, leading to limited significant price movement beyond this established range.
Show more
Honeywell Aerospace (HONA) stock has remained largely at the same level since it went public on 6/29/2026 because of the following key factors:
1. Initial Price Discovery and Spin-off Churn: Honeywell Aerospace (HONA) began regular-way trading on June 29, 2026, following its spin-off from Honeywell International. The initial days of trading for a newly spun-off entity are inherently characterized by a period of price discovery. For instance, HONA rose approximately 7% intraday on its debut but closed down 0.4% at $220.19 on that same day, on a volume of about 8.5 million shares. This early volatility and subsequent settling around the initial trading range are typical as the market absorbs the new equity and as some funds, which received shares but are unable or unwilling to hold them, engage in "spin-off churn" selling.
2. Neutral-to-Moderate Analyst Sentiment and Consolidated Price Targets: Shortly after its market debut, several Wall Street analysts initiated coverage with predominantly neutral ratings and price targets that have largely converged around the stock's current trading level. For example, Jefferies initiated a Hold rating with a $235.00 price target on June 30, 2026, and Morgan Stanley initiated an Equalweight rating with a $255.00 price target on July 8, 2026. The consensus price target from 9 analysts is $249.83, with a narrow forecasted upside of about 4.91% from the stock's price of $238.14 on July 8, 2026. This suggests that the market's initial valuation is well-defined by early analyst expectations, leading to limited significant price movement beyond this established range.
Show more
Updated on 7/8/2026
Honeywell Aerospace (HONA) stock has remained largely at the same level since it went public on 6/29/2026 because of the following key factors:
1. Initial Price Discovery and Spin-off Churn: Honeywell Aerospace (HONA) began regular-way trading on June 29, 2026, following its spin-off from Honeywell International. The initial days of trading for a newly spun-off entity are inherently characterized by a period of price discovery. For instance, HONA rose approximately 7% intraday on its debut but closed down 0.4% at $220.19 on that same day, on a volume of about 8.5 million shares. This early volatility and subsequent settling around the initial trading range are typical as the market absorbs the new equity and as some funds, which received shares but are unable or unwilling to hold them, engage in "spin-off churn" selling.
2. Neutral-to-Moderate Analyst Sentiment and Consolidated Price Targets: Shortly after its market debut, several Wall Street analysts initiated coverage with predominantly neutral ratings and price targets that have largely converged around the stock's current trading level. For example, Jefferies initiated a Hold rating with a $235.00 price target on June 30, 2026, and Morgan Stanley initiated an Equalweight rating with a $255.00 price target on July 8, 2026. The consensus price target from 9 analysts is $249.83, with a narrow forecasted upside of about 4.91% from the stock's price of $238.14 on July 8, 2026. This suggests that the market's initial valuation is well-defined by early analyst expectations, leading to limited significant price movement beyond this established range.
3. Balanced Impact of Index Inclusion: Honeywell Aerospace was added to the S&P 500 and S&P 100 on its regular-way trading debut, June 29, 2026. This inclusion typically generates mechanical buying pressure from passive index-tracking funds. However, this demand was concurrently balanced by the necessary rebalancing activities from these same funds, which had to adjust their portfolios across both the newly public HONA shares and the remaining Honeywell Technologies (HON) shares. These substantial, albeit temporary, rebalancing flows created a dynamic equilibrium that contributed to the stock remaining largely at the same level during its first week of public trading.
Show less
Honeywell Aerospace (HONA) stock has remained largely at the same level since it went public on 6/29/2026 because of the following key factors:
1. Initial Price Discovery and Spin-off Churn: Honeywell Aerospace (HONA) began regular-way trading on June 29, 2026, following its spin-off from Honeywell International. The initial days of trading for a newly spun-off entity are inherently characterized by a period of price discovery. For instance, HONA rose approximately 7% intraday on its debut but closed down 0.4% at $220.19 on that same day, on a volume of about 8.5 million shares. This early volatility and subsequent settling around the initial trading range are typical as the market absorbs the new equity and as some funds, which received shares but are unable or unwilling to hold them, engage in "spin-off churn" selling.
2. Neutral-to-Moderate Analyst Sentiment and Consolidated Price Targets: Shortly after its market debut, several Wall Street analysts initiated coverage with predominantly neutral ratings and price targets that have largely converged around the stock's current trading level. For example, Jefferies initiated a Hold rating with a $235.00 price target on June 30, 2026, and Morgan Stanley initiated an Equalweight rating with a $255.00 price target on July 8, 2026. The consensus price target from 9 analysts is $249.83, with a narrow forecasted upside of about 4.91% from the stock's price of $238.14 on July 8, 2026. This suggests that the market's initial valuation is well-defined by early analyst expectations, leading to limited significant price movement beyond this established range.
3. Balanced Impact of Index Inclusion: Honeywell Aerospace was added to the S&P 500 and S&P 100 on its regular-way trading debut, June 29, 2026. This inclusion typically generates mechanical buying pressure from passive index-tracking funds. However, this demand was concurrently balanced by the necessary rebalancing activities from these same funds, which had to adjust their portfolios across both the newly public HONA shares and the remaining Honeywell Technologies (HON) shares. These substantial, albeit temporary, rebalancing flows created a dynamic equilibrium that contributed to the stock remaining largely at the same level during its first week of public trading.
Show less
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
3/31/2026 to 7/12/2026| Return | Correlation | |
|---|---|---|
| HONA | ||
| Market (SPY) | 16.1% | -23.3% |
| Sector (XLI) | 12.5% | 6.6% |
Fundamental Drivers
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Market Drivers
12/31/2025 to 7/12/2026| Return | Correlation | |
|---|---|---|
| HONA | ||
| Market (SPY) | 11.0% | -23.3% |
| Sector (XLI) | 17.6% | 6.6% |
Fundamental Drivers
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Market Drivers
6/30/2025 to 7/12/2026| Return | Correlation | |
|---|---|---|
| HONA | ||
| Market (SPY) | 23.2% | -23.3% |
| Sector (XLI) | 24.6% | 6.6% |
Fundamental Drivers
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Market Drivers
6/30/2023 to 7/12/2026| Return | Correlation | |
|---|---|---|
| HONA | ||
| Market (SPY) | 76.3% | -23.3% |
| Sector (XLI) | 76.6% | 6.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HONA Return | - | - | - | - | - | 1% | 1% |
| Peers Return | 20% | -1% | 53% | 43% | 39% | 12% | 306% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| HONA Win Rate | - | - | - | - | - | 100% | |
| Peers Win Rate | 57% | 43% | 65% | 70% | 70% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| HONA Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | -16% | -28% | -18% | -14% | -23% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GE, RTX, PH, ETN, TDG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/10/2026 (YTD)
How Low Can It Go
HONA has limited trading history. Below is the Industrials sector ETF (XLI) in its place.
| Event | XLI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.8% | -18.8% |
| % Gain to Breakeven | 18.8% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -11.7% | -9.5% |
| % Gain to Breakeven | 13.2% | 10.5% |
| Time to Breakeven | 45 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -20.1% | -24.5% |
| % Gain to Breakeven | 25.1% | 32.4% |
| Time to Breakeven | 125 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.6% | -33.7% |
| % Gain to Breakeven | 71.2% | 50.9% |
| Time to Breakeven | 231 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.7% | -19.2% |
| % Gain to Breakeven | 31.1% | 23.8% |
| Time to Breakeven | 120 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -11.1% | -12.2% |
| % Gain to Breakeven | 12.5% | 13.9% |
| Time to Breakeven | 51 days | 62 days |
In The Past
State Street Industrial Select Sector SPDR ETF's stock fell -15.8% during the 2025 US Tariff Shock. Such a loss loss requires a 18.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
HONA has limited trading history. Below is the Industrials sector ETF (XLI) in its place.
| Event | XLI | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -20.1% | -24.5% |
| % Gain to Breakeven | 25.1% | 32.4% |
| Time to Breakeven | 125 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.6% | -33.7% |
| % Gain to Breakeven | 71.2% | 50.9% |
| Time to Breakeven | 231 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.7% | -19.2% |
| % Gain to Breakeven | 31.1% | 23.8% |
| Time to Breakeven | 120 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -22.5% | -17.9% |
| % Gain to Breakeven | 29.0% | 21.8% |
| Time to Breakeven | 114 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -60.5% | -53.4% |
| % Gain to Breakeven | 153.2% | 114.4% |
| Time to Breakeven | 700 days | 1085 days |
In The Past
State Street Industrial Select Sector SPDR ETF's stock fell -15.8% during the 2025 US Tariff Shock. Such a loss loss requires a 18.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 383.27 |
| Mkt Cap | 139.7 |
| Rev LTM | 28,522 |
| Op Inc LTM | 5,181 |
| FCF LTM | 3,776 |
| FCF 3Y Avg | 3,348 |
| CFO LTM | 4,741 |
| CFO 3Y Avg | 4,198 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.7% |
| Rev Chg 3Y Avg | 10.1% |
| Rev Chg Q | 16.8% |
| QoQ Delta Rev Chg LTM | 3.9% |
| Op Inc Chg LTM | 14.5% |
| Op Inc Chg 3Y Avg | 21.1% |
| Op Mgn LTM | 18.6% |
| Op Mgn 3Y Avg | 18.2% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 18.3% |
| CFO/Rev 3Y Avg | 16.4% |
| FCF/Rev LTM | 15.4% |
| FCF/Rev 3Y Avg | 13.8% |
Price Behavior
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HONA Betas & Captures as of 6/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | � | � | � | � | � | � |
| Up Beta | � | � | � | � | � | � |
| Down Beta | � | � | � | � | � | � |
| Up Capture | 5% | 2% | 1% | 1% | 0% | 0% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 1 | 1 | 1 | 1 | 1 | 1 |
| Down Capture | -0% | -0% | -0% | -0% | -0% | -0% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 0 | 0 | 0 | 0 | 0 | 0 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HONA | |
|---|---|---|---|---|
| HONA | 0.3% | 69.4% | 0.35 | - |
| Sector ETF (XLI) | 22.7% | 16.7% | 1.05 | 6.6% |
| Equity (SPY) | 22.1% | 12.5% | 1.31 | -23.3% |
| Gold (GLD) | 23.5% | 27.8% | 0.75 | 58.5% |
| Commodities (DBC) | 23.6% | 18.7% | 0.99 | -43.4% |
| Real Estate (VNQ) | 13.4% | 13.9% | 0.67 | 66.1% |
| Bitcoin (BTCUSD) | -42.5% | 42.8% | -1.17 | 25.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HONA | |
|---|---|---|---|---|
| HONA | 0.1% | 69.4% | 0.35 | - |
| Sector ETF (XLI) | 13.7% | 17.6% | 0.61 | 6.6% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | -23.3% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 58.5% |
| Commodities (DBC) | 7.3% | 19.5% | 0.27 | -43.4% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 66.1% |
| Bitcoin (BTCUSD) | 13.8% | 53.4% | 0.44 | 25.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HONA | |
|---|---|---|---|---|
| HONA | 0.0% | 69.4% | 0.35 | - |
| Sector ETF (XLI) | 14.6% | 20.0% | 0.64 | 6.6% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | -23.3% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | 58.5% |
| Commodities (DBC) | 6.0% | 18.0% | 0.26 | -43.4% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 66.1% |
| Bitcoin (BTCUSD) | 58.6% | 66.2% | 0.99 | 25.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 06/08/2026 | 10-12B/A |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 06/08/2026 | 10-12B/A |
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Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Aerospace & Defense Resources |
| Defense News |
| FlightGlobal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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