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Honeywell: As Good As It Gets

December 22, 2017

Summary Points:

*The company's 2018 guidance was well-received by the market.

*HON is a best-of-breed industrial company that deserves a 'premium' valuation.

*HON shares are a long-term buy at today's price.


On December 13, 2017, Honeywell's ($HON) management team held an investor meeting where it provided the company's fiscal 2018 guidance to the financial community. The 2018 guidance and management's commentary were well-received by the market. HON shares are up only ~1% since the investor meeting, but shares are outperforming the broader market by a wide margin on a YTD basis.




There was a lot to like about Honeywell's 2018 guidance and, in my opinion, the bull case for this industrial conglomerate may be stronger now than it has ever been. Moreover, I believe that Honeywell is as good as it gets in the industrial space, so investors should not be worried about the company's 'premium' valuation.


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