Honeywell: A Company That Is Properly Positioned For 2019

Summary:

- Honeywell's stock has underperformed the broader market over the last year, but I believe that HON shares are a great long-term buy at today's price.

- Additionally, the recent spinoffs have the potential to be a major catalyst for Honeywell's stock over the next 12-18 months.

- I am long Honeywell, and I have plans to grow my position in 2019.

Honeywell ($HON) is a core holding in the R.I.P. portfolio, and the stock has performed well over the last 3 plus years. More recently, however, HON shares have underperformed the broader market by over 6 percentage points.

The recent underperformance for HON shares has created a long-term buying opportunity because, in my opinion, this industrial conglomerate is well-positioned for 2019 and beyond. Moreover, the recent spins could potentially be a major catalyst for the HON shares in the current year.