Dow 20 Stocks List: Ranked By Hedge Fund Bullishness Index

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17. Honeywell International Inc. (NASDAQ:HON)

Number of Hedge Fund Holders: 75

Honeywell International Inc. (NASDAQ:HON) is among the best Dow stocks to invest in. On June 9, the company announced that it had finalized its $2.16 billion all-cash acquisition of Sundyne from private equity firm Warburg Pincus.

Sundyne, known for its advanced pumps and gas compressors used in process industries, is expected to contribute immediately to Honeywell International Inc. (NASDAQ:HON)’s revenue growth, segment margins, and adjusted earnings per share during the first full year of ownership.

Sundyne brings strong customer relationships and top-tier technology, which are expected to enhance Honeywell UOP’s presence in areas like refining, petrochemicals, LNG, and clean energy. Integrated with the Honeywell Forge platform, the combined offering strengthens Honeywell’s position in the energy transition by providing a comprehensive, scalable solution.

This acquisition comes on the heels of Honeywell International Inc. (NASDAQ:HON)’s recent announcement to spin off its Aerospace Technologies and Solstice Advanced Materials units, moves aimed at creating three separate publicly traded companies, each with focused strategies and growth opportunities.

Since December 2023, Honeywell has pursued several strategic initiatives to boost organic growth and streamline its operations, including $13.5 billion in value-enhancing acquisitions. The company operates globally across a wide range of industries.

HON has surged by over 7% in the past 12 months.

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