Diversified technology and manufacturing company Honeywell
International Inc. (
) on Friday posted in-line fourth quarter profits, boosted its 2011
forecast, and announced the $950 million sale of its automotive
The Morristown, NJ-based company reported fourth quarter net
income of $369 million, or 47 cents per share, compared with $150
million, or 20 cents per share, in the year-ago period. Excluding
one-time charges, adjusted profit was 87 cents per share.
Revenue jumped 12% from last year to $9.04 billion.
On average, Wall Street analysts expected a matching adjusted
profit of 87 cents, on lower revenue of $8.84 billion.
Honeywell also said it would sell its automotive consumer
products unit to privately-held investment firm Rank Group for $950
Looking ahead, the company predicted first quarter 2011 profit
would range from 76 to 80 cents per share. For the full year 2011,
it raised its forecast to a range of $3.60 to $3.80 per share,
which compared with the $3.77 per share currently expected by
Honeywell shares fell 62 cents, or -1.1%, in premarket trading
The Bottom Line
Shares of Honeywell (
) have a 2.16% dividend yield, based on last night's closing stock
price of $55.92. The stock has technical support in the $50-$52
price area. The shares are approaching all-time high levels around
the $60 price mark.
Honeywell International Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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