economy

We're trimming a rebounding tech stock and buying more of a catalyst-rich name

The sale is a matter of portfolio discipline.

We're trimming a rebounding tech stock and buying more of a catalyst-rich name

TL;DR

  • Jim Cramer's Charitable Trust is selling 205 shares of Palo Alto Networks (PANW) at approximately $183.32.
  • The trust is buying 30 shares of Honeywell (HON) at approximately $210.68.
  • These trades will decrease PANW's portfolio weight to 1.2% and increase HON's to 2.35%.
  • The sale of PANW is a strategic decision to trim into strength and consolidate cybersecurity exposure around CrowdStrike, despite PANW's strong performance and AI positioning.
  • Honeywell's stock decline is seen as an opportunity to increase holdings before its Aerospace segment spins off on June 29th.
  • The trust expects value creation from the separation of Honeywell Aerospace.
  • The sale of PANW shares will realize an average gain of about 70% on stocks purchased in 2023 and 2024.

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