We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Are 3M, Honeywell, GE Buys After Quarterly Reports?

4 21 8
10.08.2022

Industrials 3M (NYSE: MMM), Honeywell (NASDAQ: HON) and General Electric (NYSE: GE) are all trading higher following recent earnings reports.

One truism about the industrial sector: These companies' businesses are intricately tied to economic cycles. We maybe familiar with the consumer products offered by these companies, such as 3M's Post-It notes, Honeywell's air purifiers and humidifiers, and GE's light bulbs.

However, all these companies also have large exposure to business and enterprise customers. That means they feel the effects of cyclical demand as the economy rises and falls, and businesses and manufacturers expand and contract their buying.

Despite widespread worries about recession, the broader industrial sector, as tracked by the Industrial Select Sector SPDR ETF (NYSEARCA: XLI), is down 8.49% year-to-date, but it's participated in the recent broad market rally, showing a one-month gain of 9.30%.

The most heavily weighted components within the sector, and their one-month returns are:

3M, which........

© Entrepreneur


Get it on Google Play