Jim Cramer Discusses Joe Rogan, Elon Musk, And These 13 Stocks

9. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders In Q3 2024: 55

Honeywell International Inc. (NASDAQ:HON) is one of the biggest industrial conglomerates in America. It targets customers in the aerospace, defense, construction, energy, and other industries with its products. Honeywell International Inc. (NASDAQ:HON)’s shares gained 9.4% in 2024 as the firm was beset with a broader industrial slowdown and pressure from activist investors. Its industrial automation sales dropped by 5% during the fiscal third quarter due to supply chain disruptions. The broader slowdown has increased pressure on Honeywell International Inc. (NASDAQ:HON) to spin off its businesses and streamline operations. Here’s what Cramer said:

“Honeywell, doing what Elliot Partners wants. Which is to split automation and aero. People thought that this would be a great idea. Whatever Honeywell seems to do is disappointing. A lot of that is because of the earnings which have not been up to snuff. I think that this is an opportunity. The stock is down 5% for the year. Even though they’re doing something that could be very much like what GE did. When they split into energy, healthcare, and then core aerospace. I think the stock is a buy but people want to see the quarter which they think will be a disappointment. And they want to sell ahead of that. I say let them do it. The parts are worth more than the whole.”