Jim Cramer's Charitable Trust Sells 320 Honeywell Aerospace Shares at About $172, Booking About 15% Loss
Jim Cramer's charitable trust sold 320 Honeywell Aerospace shares at approximately $172 each, exiting the position with a loss of about 15%. The sale followed Honeywell Aerospace's first earnings call after the spin-off, during which the company cut its full-year organic sales growth and adjusted operating profit guidance. Management cited persistent supply chain constraints that have slowed production ramp-up and created a gap between actual performance and targets. The guidance revision reflects a reassessment of full-year goals to align with current operations.
Honeywell Aerospace cut its full-year guidance for organic sales growth and adjusted operating profit on its first earnings call after the spin-off.
For a newly listed company with a long operating history, cutting guidance on the first earnings call is relatively uncommon. The company said supply chain constraints continue to affect the pace of its production ramp-up, causing actual performance to fall short of planned targets.
The revisions indicate that management has reassessed its full-year targets to better align them with current operating conditions and the supply chain environment.