(C) Reuters. Honeywell vs. 3M: Which Industrial Stock is a Better Investment?
Continued progress on the vaccination front, favorable policies, and rising demand should keep driving the industrial sector’s growth. As a result, popular industrial stocks such as Honeywell (HON) and 3M Company (NYSE:MMM) should see strong sales growth in the upcoming months. But which of these stocks is a better buy now? Read more to find out.Honeywell International Inc. (NASDAQ:HON) and 3M Company (MMM) are two well-known companies in the industrial space. HON operates as a diversified technology and manufacturing company worldwide. The company operates through four segments — Aerospace; Honeywell Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions. MMM develops, manufactures, and markets various products worldwide.
The company also operates through four business segments — Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. It offers its products through e-commerce platforms and traditional wholesalers, retailers, jobbers, distributors, dealers, and directly to users.
The industrial sector has been recovering with the reopening of economic activities as there has been solid progress on the vaccination front. Rising demand for advanced equipment, machinery, and supplies should drive the sector’s growth. So, both HON and MMM should benefit. In terms of the past year’s performance, HON is a winner with a 34.9% gain versus MMM’s 13.4% return. But which of these stocks is a better pick now? Let’s find out.
Honeywell vs. 3M: Which Industrial Stock is a Better Investment?
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