Honeywell Q2 Profit Jumps 43% on Chemicals, Aerospace Demand (HON)


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Diversified technology and manufacturing company Honeywell International Inc. ( HON ) on Friday posted a 43% gain in second quarter earnings, led by stronger demand for its chemical coolants and airplane parts.

The Morristown, NJ-based company reported second quarter net income of $810 million, or $1.02 per share, compared with $566 million, or 73 cents per share, in the year-ago period. Revenue rose 15% from last year to $9.1 billion, excluding discontinued operations.

On average, Wall Street analysts expected a smaller profit of 98 cents per share.

Looking ahead, the company boosted its full-year earnings forecast to a range of $3.85 to $4.00 per share, up from prior guidance of $3.80 to $3.95 per share.

Honeywell shares fell 56 cents, or -1%, in premarket trading Friday.

The Bottom Line
Shares of Honeywell ( HON ) have a 2.28% dividend yield, based on last night's closing stock price of $58.21. The stock has technical support in the $55 price area. The shares are trading right around all-time highs of $62-$63.

Honeywell International Inc. ( HON ) is not recommended at this time, holding a 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 Nasdaq, Inc.

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