As for the stock market at-large, the Trian chief said, "We're not stock market buyers. We're buyers of a few companies that we like and that we think that we can have some positive input with."
(Read More: Thursday's Big Deals Just the Beginning of M&A Boom: Peltz)
One of those companies is Family Dollar — a firm Peltz had tried to takeover a couple years ago. His investment partner Edward Garden has been on the company's board since the fall of 2011.
Peltz raved about the retailer. "[It's] had same-store sales increases for 20-plus years. … They've adapted well. And I think you're going to see continuing success."
He told CNBC he bought Family Dollar in the $30 range: "We believe in the company. We like it."
Peltz also expressed optimism about Ingersoll-Rand, whose products aim to enhance its customers' energy efficiency, productivity, and operations.
"We're involved in Ingersoll-Rand," said Peltz, who joined the company's board last summer.
"You saw that they made some initial moves there," he added, such as spinning off their security business, increasing the dividend, and buying back shares. "We think there's wind at their back, and we're very happy with what we're seeing."
—By CNBC's Matthew J. Belvedere; Follow him on Twitter @Matt_SquawkCNBC
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