Many investors are so obsessed with finding bargains that they sometimes overlook excellent companies trading at reasonable valuations. This can be a long-term mistake, as it is often better to own the more expensive stocks of superior companies. That seems like a relevant point with Honeywell (NYSE:HON) today. While these shares are not significantly undervalued today, the quality of the company's execution and the prospects for better margins (and growth) argue for a long-term position.
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http://www.investopedia.com/stock-analysis/042213/strong-execution-justifies-honeywells-price-hon-emr-ge-abb.aspx
Investopedia: Strong Execution Justifies Honeywell's Price
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