3M vs Honeywell: Which Conglomerate is Poised for Growth?

Two prominent industrial conglomerates, 3M (MMM) and Honeywell Technologies (HON), operate in the diversified operations industry. Both companies have a significant overlap in sectors such as industrial automation, consumer goods, and safety and security markets.

The Safety and Industrial segment at 3M has been driving momentum, fueled by strength in industrial specialties, electrical and personal safety markets. Sales of industrial adhesives and tapes climbed 13% year-over-year in the second quarter of 2026, while personal safety sales advanced 9.4%. Electrical and industrial specialties markets also posted strong growth of 12% and 10.9%, respectively.

Honeywell has been benefiting from strength in its Building Automation segment, with an increase in demand for products and solutions driven by growing building projects across the Americas, India, and the Middle East. The Industrial Automation segment at Honeywell also showed strength, with organic revenues increasing 4% year-over-year in the second quarter.

However, both companies have their challenges. 3M faces weakness in consumer retail end markets due to lower discretionary spending, while Honeywell's Process Automation and Technology segment has been experiencing decline. Both companies are committed to rewarding shareholders through dividend payments and share buybacks.