5 Robotics Stocks Billionaires Are Loading Up On

2. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders: 58

Number of Billionaire Investors: 16

Honeywell International Inc. (NASDAQ:HON) is a global technology and manufacturing company that offers robotics solutions for industrial automation. The company’s robotics capabilities assist businesses in enhancing manufacturing processes, optimizing production lines, and improving overall operational performance. Honeywell International Inc. (NASDAQ:HON)’s robotics and automation technologies are utilized in oil and gas, refining, petrochemicals, and manufacturing industries. During Q1 2023, Honeywell International Inc. (NASDAQ:HON) attracted the interest of 16 billionaires, including Ken Griffin of Citadel Investment Group. 

On May 2, John Eade, an analyst at Argus, maintained a Buy rating on Honeywell International Inc. (NASDAQ:HON) with a price target of $230. According to the analyst, the recent decline in the stock presents an opportunity for investors. Eade believes that Honeywell International Inc. (NASDAQ:HON) will continue to benefit from its diverse range of product lines and its strong presence in the commercial aerospace and commercial construction markets. The analyst noted that Honeywell has a solid balance sheet and a management team known for under-promising and over-delivering.

According to Insider Monkey’s first quarter database, 58 hedge funds were bullish on Honeywell International Inc. (NASDAQ:HON), compared to 44 funds in the prior quarter. 

Here is what ClearBridge Investments has to say about Honeywell International Inc. (NASDAQ:HON) in its Q1 2021 investor letter:

“The portfolio’s quality bias and valuation discipline have generated compelling returns over time with typically strong relative results in more challenging environments as it did through the first three quarters of 2020. However, that same quality bias tends to create a more challenging relative performance environment for the Strategy during periods of sharp economic acceleration, which tend to benefit stocks that are more commodity linked or of lower quality. This has been the case during the vaccine- and stimulus-driven rally experienced late last year and during the most recent quarter. Sectors that lagged in the quarter included industrials, Honeywell also lagged in the quarter after previously generating strong returns over extended periods.”