On today’s STOP TRADING segment on CNBC, Jim Cramer was at least happier today than last week since the market stabilized. Cramer said he’d buy Honeywell (NYSE:HON) as one that belongs in the same league as Boeing (NYSE:BA). He likes that they blew out numbers and are buying more stock than anyone else. Cramer said he would prefer to see more dividend hikes as long-term signals of conviction.
Honeywell is one that is within 4% of its 52-week highs and does trade at premium multiples to other DJIA components. On top of its ability or desire to repurchase shares, it still also has many opportunities to prune down its portfolio and focus on core operations. We’ll leave that up to the company as to what their strategy is for now at least, particularly as the conglomerate has so many areas it operates in.
Jon C. Ogg
July 30, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
