The Nasdaq Just Hit Correction Territory: 2 Pullback Stocks to Buy and Hold for a Decade

Broad-based market sell-offs are often great times to initiate long-term investing positions. In fact, they can give investors just the nudge they needed to buy stocks that already looked like great values before the market declined. With the Nasdaq Composite (NASDAQINDEX: ^IXIC) falling into correction territory, I think blue-chip industrial conglomerate Honeywell International (NASDAQ: HON) and advanced materials company Hexcel (NYSE: HXL) are terrific stocks to buy now.Having already announced plans to spin off one segment, Honeywell management went a step further last month and said the company would split into three separate businesses, all of which will be publicly traded. There's a case for all of them to outperform in the future as individual companies -- not based on a sum-of-the-parts evaluation, but because some of Honeywell's peers have already set a profitable example.With the advanced materials spinoff already announced, the focus is on the two other businesses, Honeywell Aerospace and Honeywell Automation. Management names GE Aerospace, RTX, and TransDigm as its peers, and it's noticeable that all three have undergone significant corporate activity in recent years. GE Aerospace became an independent company last year, and RTX's commercial aerospace businesses are the result of mergers of the former United Technologies aerospace business, Rockwell Collins, and the commercial aerospace businesses of Raytheon. TransDigm's business model relies heavily on its strategy of acquiring other companies.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool