5 Best Manufacturing Stocks To Buy Now

3. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders: 58

Honeywell International Inc. (NASDAQ:HON) is a diversified technology and manufacturing company that operates through Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions segments. It is one of the top manufacturing stocks to buy. On April 27, Honeywell International Inc. (NASDAQ:HON) reported a Q1 non-GAAP EPS of $2.07 and a revenue of $8.86 billion, outperforming Wall Street estimates by $0.15 and $360 million, respectively. 

According to Insider Monkey’s first quarter database, 58 hedge funds were long Honeywell International Inc. (NASDAQ:HON), compared to 44 funds in the prior quarter. Phill Gross and Robert Atchinson’s Adage Capital Management is a significant position holder in the company, with 1.3 million shares worth $254.7 million. 

Here is what ClearBridge Investments has to say about Honeywell International Inc. (NASDAQ:HON) in its Q1 2021 investor letter:

“The portfolio’s quality bias and valuation discipline have generated compelling returns over time with typically strong relative results in more challenging environments as it did through the first three quarters of 2020. However, that same quality bias tends to create a more challenging relative performance environment for the Strategy during periods of sharp economic acceleration, which tend to benefit stocks that are more commodity linked or of lower quality. This has been the case during the vaccine- and stimulus-driven rally experienced late last year and during the most recent quarter. Sectors that lagged in the quarter included industrials, Honeywell also lagged in the quarter after previously generating strong returns over extended periods.”