5 Smart Home Technology Stocks To Buy Today

4. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders: 51

Honeywell International Inc. (NASDAQ:HON) is an American multinational conglomerate that has a dedicated unit to smart home technology, namely Home and Building Control, and provides heating, cooling, security, lighting, and smart appliances. Honeywell International Inc. (NASDAQ:HON) published its Q4 results on February 3, posting earnings per share of $2.09, exceeding estimates by $0.01. 

UBS analyst Markus Mittermaier on February 15 lowered the price target on Honeywell International Inc. (NASDAQ:HON) to $220 from $237 after its Q4 earnings and below-consensus guidance but kept a Buy rating on the shares and anticipates potential upside from current levels. 

On February 11, Honeywell International Inc. (NASDAQ:HON) declared a $0.98 per share quarterly dividend, in line with previous. The dividend is payable on March 11, to shareholders of record on February 25. 

The company management announced on February 3 that despite a challenging supply chain situation, Honeywell International Inc. (NASDAQ:HON) has great projects that will generate returns for investors.

In Q4 2021, 51 hedge funds in the database of Insider Monkey were bullish on Honeywell International Inc. (NASDAQ:HON), up from 45 funds in the prior quarter. D E Shaw held the biggest position in Honeywell International Inc. (NASDAQ:HON), with 1.6 million shares worth $342.4 million.

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.”