5 Best Electrical Equipment Stocks to Buy Now

2. Honeywell International Inc. (NYSE:HON)

Number of Hedge Fund Holders: 58

Industrials giant Honeywell International Inc. (NYSE:HON) offers electrical products and power systems. Insider Monkey’s database of 943 hedge funds shows that 58 hedge funds were long Honeywell International Inc. (NYSE:HON) as of the end of the first quarter of 2023. The biggest stakeholder of Honeywell International Inc. (NYSE:HON) during this period was Two Sigma Advisors of John Overdeck and David Siegel which owns a $379 million stake in the company.

In June, Honeywell International Inc. (NYSE:HON) announced it will buy the head-up-display (HUD) technology unit of Swedish aerospace company Saab.

ClearBridge Large Cap Value Strategy made the following comment about Honeywell International Inc. (NASDAQ:HON) in its first quarter 2023 investor letter:

“We also used the strength in the market to sell our position in diversified industrial company Honeywell International Inc. (NASDAQ:HON). While a recovery in its commercial aerospace business remains a tailwind, we believe the valuation is extended and industrial demand continues to soften.”