12 Best Automation Stocks To Buy According to Hedge Funds

Page 8 of 11

4. Honeywell International Inc. (NASDAQ:HON)

No. of Hedge Fund Holders: 55

Honeywell International Inc. (NASDAQ:HON) is a leading name in process and warehouse automation. The company provides automation services to a wide range of industries, including e-commerce, life science, metals and mining, petrochemicals, and oil and gas industries.

Honeywell International Inc. (NASDAQ:HON) is currently facing pressure from activist investor Elliott Management as the company has missed quarterly forecasts due to supply chain disruptions. After Elliott Management took the largest stake worth $5 billion in HON in November 2024, the investor has suggested splitting into two separate entities: Honeywell Aerospace and Honeywell Automation.

Honeywell International Inc. (NASDAQ:HON) confirmed on Thursday that its board has completed the portfolio evaluation related to the separation and plans to separate its Automation and Aerospace Technologies businesses into two distinct publicly traded companies. The company will also spin off its Advanced Materials business into a separate publicly traded company, according to the plan announced in October 2024. The separation will be tax-free to the company’s shareholders and is expected to be completed by the second half of 2026.

Page 8 of 11