We are selling 30 shares of Honeywell at roughly $231.78. Following the trade, Jim Cramer’s Charitable Trust will own 390 shares of HON, decreasing its weighting in the portfolio to 2.3% from around 2.5%. We’re making a small trim of Honeywell as the stock extends its recent gains. Honeywell’s stock is now up almost 10% from where we purchased 30 shares in late April. It has also rallied more than 6% dating back to Thursday. That’s when a bunch of quantum stocks rallied on news that the Trump administration will give $2 billion in grants and take equity stakes in quantum computing-based companies. Honeywell owns a majority stake in Quantinuum, which announced a letter of intent with the Commerce Department to receive federal funding. Jim said on Thursday’s Morning Meeting that he thought Honeywell shares were up too much on the news, and we’re now selling some shares since the gains have continued. We also learned today that Quantinuum is seeking to raise $1.05 billion through an upcoming initial public offering that could value the business at around $12.7 billion. That would be less than the prior reporting of $15 to $20 billion. We’ll also downgrade our rating to a 2, but we plan on re-evaluating where we stand after digesting the upcoming Honeywell Aerospace and Honeywell investor days on June 3 and June 11 , respectively. Those are key events ahead of next month’s breakup. From this sale, we will realize an average gain of about 33% on stock purchased in September 2022 and August 2023. (Jim Cramer’s Charitable Trust is long HON. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
