8 Best Drone Stocks to Buy Now

4. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders: 52

Honeywell International Inc. (NASDAQ:HON) is an American publicly traded, multinational conglomerate headquartered in Charlotte, North Carolina. The company primarily operates in four business areas: aerospace, building automation, performance materials and technologies, and safety and productivity solutions.

The company has also collaborated with Aeroscout to provide the HGuide n580 inertial measurement unit for mapping and surveying equipment on its unmanned aerial vehicles. Additionally, Honeywell International Inc. (NASDAQ:HON)’s T-53 engine powers the K-MAX Unmanned Aircraft System, a unit of the K-MAX heavy-lift helicopter.

Honeywell International Inc. (NASDAQ:HON) reported robust year-over-year sales growth of 3% in the first quarter, a growth that was driven by an 18% organic increase in Aerospace Technologies and a 5% organic rise in Energy and Sustainability Solutions. Additionally, Honeywell Connected Enterprise offerings saw more than 20% sales growth across the portfolio, with cyber and buildings offerings leading the way. The defense contractor’s earnings per share for the first quarter were $2.23, up 8% year over year, while adjusted earnings per share rose to $2.25, marking a 9% year-over-year increase.

As of March 31 of this year, Honeywell International Inc. (NASDAQ: HON) had 52 hedge fund investors out of 919 funds tracked by the Insider Monkey database. Ric Dillion’s Diamond Hill Capital, with 1.13 million shares valued at $233.4 million, was one of the company’s largest shareholders for the quarter.