Jim Cramer Recommends Buying These 5 Stocks as Commodity Prices Decline

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 journalist investor placed the company among a group of commodity stocks that he would recommend buying amid falling prices. Cramer underlined that the earnings beat of companies like Honeywell, which seemed to be doing very well despite recession fears and rate hikes, to argue his position, saying that the terrific quarters these firms were posting was evidence of their health in an uncertain marketplace. 

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, noting that a good 2023 setup was coming into view for 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.