Diversified technology and manufacturing company Honeywell
International Inc. (
) on Friday posted better-than-expected third quarter earnings and
raised its full-year outlook, sending its shares higher in
The Morristown, NJ-based company reported third quarter net
income of $862 million, or $1.10 per share, compared with $598
million, or 76 cents per share, in the year-ago period.
Revenue rose 14% from last year to $9.30 billion.
On average, Wall Street analysts expected a smaller profit of $1
per share on lower revenue of $9.27 billion.
Looking ahead, the company boosted its full-year 2011 sales
forecast to a range of $36.5 billion to $36.7 billion, up from a
prior outlook of $36.1 billion to $36.7 billion. It now expects
2011 profits of $4 to $4.05 per share, compared with a previous
view of $3.85 to $4.
Honeywell shares rose $1.94, or +4%, in premarket trading
The Bottom Line
Shares of Honeywell (
) have a 2.74% dividend yield, based on last night's closing stock
price of $38.46. The stock has technical support in the $42-$45
price area. If the shares can firm up, we see overhead resistance
around the $50-$53 price levels.
Honeywell International Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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