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CNBC Investing Club: We're trimming two stocks to raise cash and adding to another

Published Tue, Feb 8 20221:11 PM EST

Jeff Marks @jeffmarkscnbc

Jim Cramer @jimcramer

We're making a few more moves in the portfolio Tuesday, raising some cash as discussed in our latest Morning Meeting . We're selling 25 shares of Mastercard (MA) at roughly $373.96 and selling 100 shares of Nucor (NUE) at roughly $115.68. However, we're still looking for areas to opportunistically deploy capital. Case in point, we're buying 50 shares of Honeywell (HON) at roughly $193.50. Following the trades, the Charitable Trust will own 625 shares of HON, 225 shares of Mastercard, and 650 shares of Nucor. Honeywell's weighting in the portfolio will increase to about 3.01% from 2.76%, while Mastercard's and Nucor's weightings will decline to 2.09% from 2.33% and from 1.87% and 2.15%, respectively. Earlier Tuesday , we sold 125 shares of United Parcel Service (UPS) following to a recent rise to record highs. Starting with Honeywell Look, we are still not happy with Honeywell's mixed fourth-quarter result and the weaker than expected 2022 outlook. Frankly, we expected more from this high-quality management team. However, we do not think the 7% decline was justified by the numbers (especially after a year in which Honeywell's stock underperformed its peers and flipped from a premium relative valuation to a discount), making the recent pullback a buying opportunity. If we step back a bit and look at the Honeywell quarter, we still found plenty of positives from what the company said. The recovery in the aerospace industry (Honeywell's largest end market) is still in its early innings and should strengthen even further in the back half of the year through 2023 as activity picks up. Additionally, we like how management has stepped up its R & D investments in high-return projects like Quantinuum . Although we do not expect Honeywell to get much credit for these i