Honeywell: Margins Are The Real Story Here

Summary Points:

*HON shares have outperformed the broader margin by a wide margin over the last year, and investors should expect more of the same in the quarters ahead.

*The company reported impressive Q3 2017 financial results and management guided for a strong finish to the current year.

*HON shares are a long-term buy at today's price, even after the recent run-up.

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Honeywell has reported impressive quarterly results over the last year and the market recently cheered management's plan to spin off two business units by the end of 2018. As a direct result, HON shares have greatly outperformed the broader market (up 34% over the last year while the S&P 500 is up only 20%). However, the company's shares are still worth a look.