5 Best EV Materials Stocks to Buy Now

4. Honeywell International Inc (NASDAQ:HON)

Number of Hedge Fund Holders: 50  

Honeywell International Inc. (NASDAQ:HON) is a diversified technology and manufacturing company. The company makes and sells electric and hybrid-electric propulsion systems that are used in electric engines. These engines are used in electric vehicles. In late July, the firm posted earnings for the second quarter of 2022, reporting earnings per share of $2.10, beating analyst expectations by $0.07. The revenue over the period was $8.9 billion, beating analyst estimates by $280 million. 

On July 29, JPMorgan analyst Stephen Tusa maintained an Overweight rating on Honeywell International Inc. (NASDAQ:HON) stock and raised the price target to $190 from $180, appreciating the second quarter earnings beat of the firm. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm DE Shaw is a leading shareholder in Honeywell International Inc. (NASDAQ:HON), with 2.1 million shares worth more than $415 million.