UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
SCHWANZ, DONALD K.
Honeywell Inc.
21111 N. 19th Avenue
Phoenix, AZ 85036-1111
USA
2. Issuer Name and Ticker or Trading Symbol
Honeywell Inc.
HON
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
05/1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Business President
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |5/18/9|M | |84* |A |$73.50 | | | |
|8 | | | | | | | | |
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Common Stock |5/18/9|S | |84* |D |$94.8125 | | | |
|8 | | | | | | | | |
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Common Stock |5/18/9|M | |878* |A |$73.50 | | | |
|8 | | | | | | | | |
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Common Stock |5/18/9|S | |878* |D |$94.8125 | | | |
|8 | | | | | | | | |
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Common Stock |5/18/9|M | |2,192* |A |$32.82 | | | |
|8 | | | | | | | | |
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Common Stock |5/18/9|F | |769* |D |$93.4688 | | | |
|8 | | | | | | | | |
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Common Stock |5/18/9|M | |3,018* |A |$33.125 | | | |
|8 | | | | | | | | |
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Common Stock |5/18/9|F | |1,069* |D |$93.4688 |28,001 |D | |
|8 | | | | | | | | |
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Common Stock | | | | | | |1,059** |I |401(k) Plan Trust |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option |$73.50 |5/18/|M | |84 |D |5/15/|7/19/|Common Stock|84 | | | | |
(right to buy) | |98 | | | | |98 |98 | | | | | | |
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Employee Stock Option |$73.50 |5/18/|M | |878 |D |5/15/|7/19/|Common Stock|878 | | | | |
(right to buy) | |98 | | | | |98 |98 | | | | | | |
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Employee Stock Option |$32.82 |5/18/|M | |2,192 |D |7/21/|7/21/|Common Stock|2,192 | | | | |
(right to buy) | |98 | | | | |93 |02 | | | | | | |
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Employee Stock Option |$33.125 |5/18/|M | |3,018 |D |7/19/|7/19/|Common Stock|3,018 | |75,538 |D | |
(right to buy) | |98 | | | | |95 |04 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
* Executive exercised a series of stock options resulting in a net increase in
ownership of 3,372 shares.
** Total number of shares reported in 401(k) plan decreased from amount
reported in prior filing to correct error
on statement executive received from plan
administrator.
SIGNATURE OF REPORTING PERSON
/s/ Kathleen M. Gibson on behalf of Donald K. Schwanz
DATE
June 8, 1998
