Building a Position in Honeywell (HON)

about 1 month ago

Mark Ren

"And that leads us to stock number three, which is going to be Honeywell, stock ticker HON. And when it comes to Honeywell, there's a lot of similarities to why we're upbeat on the likes of Boeing. Because when you look at the segments of Honeywell, aerospace is their largest segment. But at the same time, this is a very diversified company. The company currently has a market cap of $125 billion. Over the past 12 months, though, shares are down 5% and year-to-date down 13%. So, when it comes to moving forward, and again, I'm a long-term investor, so I'm not necessarily looking for big pops so that I can get into a stock and then make my profit and get out. These are positions I'm looking to build upon. In addition, Q3 earnings beat on both the top and bottom lines with increased full-year guidance, and analysts rate the stock a buy with a 12-month price target of $248 per share, implying 26% upside."

The speaker discusses Honeywell as a position to build for long-term investors, despite a recent decline in share price. Emphasizing its diversification and steady earnings growth, he highlights a buy rating with a 12-month price target suggesting 26% upside.

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