5 Best Robotics Stocks To Buy Now

2. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders: 53

Honeywell International Inc. (NASDAQ:HON) operates as a diversified technology and manufacturing company worldwide. Honeywell Robotics provides products such as Mobile Robotics, Order Picking Technology, Smart Flexible Depalletizers, Robotic Sorter Induction, and Loading and Unloading Automation Technologies. Honeywell International Inc. (NASDAQ:HON) is one of the best robotics stocks to invest in. 

On October 31, Baird analyst Peter Arment raised the price target on Honeywell International Inc. (NASDAQ:HON) to $225 from $202 and maintained an Outperform rating on the shares. The analyst said its strong Q3 bottom-line beat indicates ongoing progress in primary commercial markets and its execution, despite headwinds like supply chain constraints, meaningful declines in warehouse automation, and PPE demand.

According to Insider Monkey’s Q3 data, 53 hedge funds were long Honeywell International Inc. (NASDAQ:HON), compared to 42 funds in the last quarter. Ric Dillon’s Diamond Hill Capital is the largest stakeholder of the company, with 1.13 million shares worth $190.2 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.”