Honeywell International (HON)

Great company, now a bit expensive. Sold when valuation got expensive for the fundamentals. Not a bad stock or story. Future expectations on EPS estimates tend to be declining, and he likes things that are going the other way.

HON has been beaten this year, but now has momentum after the Fed pivoted today.

Have not reported Q3 yet. Margins expanding. Long cycle business' performing well. Good for re-shoring theme. Expensive valuation at 18x earnings. Better deal in General Electric. 

Reported a solid quarter with organic aerospace sales up 18% YOY. Commercial airplane sales up 20% YPY.

He did well with this in the past, but it got too expensive. It's since fallen back in price. Their growth metrics have been fading. There are better industrials.

Very liquid large cap stock. Excellent business fundamentals. Strong management team. Current share price presenting lots of value. Good for defensive investors. Expecting 4% organic growth annually. Sustainability business in high demand. Energy space also presenting opportunity. New CEO also making positive changes. 

He sold in January on valuation. Great company. One to own when the price is right. 21st century leader in industrial technology.

Global company with strong prospects.
Growth has slowed after M&A deals in the 2000's.
Healthy dividend and strong free cash flow.
Share price not cheap enough to buy.
Buy on weakness. 

Believes prospects business very strong.
Current share price very high - wait for shares to fall before buying.
Excellent fundamentals in business.
Strong assets with high quality management team.
Business assets hard to replicate (aerospace etc.) 
High margins with excellent revenue growth. 

Trading about 25x earnings, fairly close to its historical average. Because of this, multiple won't expand so you're just looking for earnings growth. Still a bit rich for him. Very defensive attributes in this environment. If your heart is set on it, watch and wait for a pullback. He prefers RTX right now.

Sold in January on valuation. Traded at 25% premium to the market, which was not sustainable.

Aerospace is on fire with a backlog that can last years.