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Honeywell Q1 Profit Rises 17%; Forecast Raised (HON)

By Dividend.com,  April 20, 2012, 09:12:22 AM EDT

Diversified technology and manufacturing company Honeywell International Inc. ( HON ) on Friday posted a 17% gain in first quarter earnings, beating Wall Street estimates, and lifted its full-year outlook.

The Morristown, NJ-based company reported first quarter net income of $825 million, or $1.04 per share, compared with $708 million, or 88 cents per share, in the year-ago period.

Revenue rose 7% from last year to $9.3 billion.

On average, Wall Street analysts expected a smaller profit of 99 cents per share, on lower revenue of $9.15 billion.

Looking ahead, HON lifted its full-year 2012 earnings outlook to a range of $4.35 to $4.55 per share, up from a prior forecast of $4.25 to $4.50. Analysts currently expect $4.44 per share for the year.

Honeywell shares rose $1.98, or +3.4%, in premarket trading Friday.

The Bottom Line
Shares of Honeywell ( HON ) have a 2.57% dividend yield, based on last night's closing stock price of $58.00. The stock has technical support in the $52-$55 price area. The stock is trading near all-time highs of $62-$63 a share.

Honeywell International Inc. ( HON ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: HON



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