Lightened up on HON stock at these high levels. However, I do think that 120 in the days before or after earnings is possible and will buy back if opportunity presents itself. The fear index is down and there seems to be a new calm in the overall markets now that it looks like the job numbers have corrected the slide and Brexit has taken a rate increase off the table for now. Steady as she goes but keep an eye on the low pressure areas.
How did I get screwed? The dividend came out of the stock price at the open back on May 17th and the brokerage automatic dividend reinvestment bought shares at the close on June 10th at a price close to the close of 116.68, down from the open at 117.51. The previous close was 117.21. Of course, those that are in the 401K and roll over the dividend, bought stock back on the ex-dividend day at a then lower price!