On August 19, Honeywell Aerospace Inc rose 3.41% in regular trading, trading at $167.5/share, with turnover of $30.321 million.

On the news front, Morgan Stanley upgraded Honeywell Aerospace from Equal Weight to Overweight, serving as the direct catalyst for the rally. In its research note, the firm stated that while the company faces supply chain execution challenges, its fundamental business is attractive and offers upside potential if it can effectively resolve mechanical supply chain bottlenecks.

The upgrade comes after a significant pullback of over 23% following the company's first standalone quarterly results post-spinoff, in which Q2 earnings missed consensus expectations and full-year guidance was cut. The company noted it is taking steps to reduce operational bottlenecks, including increasing parts availability and working more closely with suppliers. RBC Capital Markets has also highlighted the company's under-appreciated APU portfolio and substantial strength in the business jet engine market as longer-term positives.

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