HONA Drops 10% in a Week — Borrow Market Flips Overnight

Honeywell Aerospace enters July having shed nearly 10% in a single week, while its lending market underwent one of the more striking single-day reversals visible in the data.

The borrow story is the sharpest signal right now. Availability swung from near-fully-exhausted to extraordinarily loose in just 24 hours — moving from 4.4% on June 29 to more than 3,100% on June 30. That kind of move almost certainly reflects a large block of previously lent shares being returned to the pool rather than any change in short conviction. Cost to borrow moved in the same direction, nearly tripling overnight from 0.53% to 1.51%, though both readings remain low in absolute terms. Short interest itself looks negligible — utilization came in at just over 3% on June 30, down from 96% the prior session, consistent with the same return event. There is no meaningful short pressure on this stock right now.

The analyst picture is thin but modestly constructive. The consensus sits at hold, with only two analysts on record and a mean price target of $275 against a closing price of $221. That implies roughly 24% upside to the Street's central estimate, though coverage is too sparse to read much into the direction. No rating changes were logged in the past two weeks.

HONA is a recent spin-off — separated from the legacy Honeywell in 2025 — and the ORTEX score history reflects that short track record. The total score has drifted lower through June, from 72.1 to 70.3, with quality the main drag, falling to 58.5 from 65.0 as FCF metrics and balance-sheet signals softened. Growth is the counterweight, rising to 66.3 and representing the only pillar with a positive trend this month. Against the aerospace peer group, HONA trails RTX, which carries a total score of 74.1. Next earnings land on August 14, giving the market six weeks to decide whether the recent price decline represents a re-rating or simply noise in a thinly covered, newly independent name.