10 Best Conglomerate Stocks to Buy According to Hedge Funds

2) Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders: 55

Honeywell International Inc. (NASDAQ:HON) is a diversified technology and manufacturing powerhouse.

Wall Street believes that Honeywell International Inc. (NASDAQ:HON)’s long-term growth should be driven by a commercial agreement with Bombardier, which is a leading manufacturer of business jets. This alliance includes using Honeywell International Inc. (NASDAQ:HON)’s avionics and engines in Bombardier’s aircraft fleet, which should act as a significant opportunity.

The agreement should generate ~$17 billion in lifetime revenue opportunities for Honeywell, further strengthening the potential long-term benefits of this alliance. These revenue opportunities indicate a promising growth trajectory for Honeywell International Inc. (NASDAQ:HON)’s aerospace segment. Apart from securing a steady revenue stream, it strengthens Honeywell International Inc. (NASDAQ:HON)’s position as a leading supplier of avionics and engine technologies for business jets.

The agreement should lead to higher market share and enhanced brand recognition in the business aviation segment. With Bombardier continuing to innovate and expand its product line, Honeywell International Inc. (NASDAQ:HON) should benefit from the elevated demand for advanced avionics and propulsion systems. With the business jet market recovering and growing, Honeywell International Inc. (NASDAQ:HON) remains well-placed to capitalize on this trend, potentially resulting in sustained revenue growth and margin expansion in the aerospace segment.

UBS Group reissued a “Buy” rating with a price target of $298.00 (up from $215.00) on the company’s shares on 13^th November 2024.