Honeywell’s Profit Beats; Revenue Misses View; Forecast Narrowed (HON)

By Staff,

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Diversified industrial manufacturer Honeywell International Inc. ( HON ) on Friday posted mixed third quarter earnings results and narrowed its full-year outlook.

The Morristown, NJ-based company reported third quarter net income of $950 million, or $1.20 per share, compared with $862 million, or $1.10 per share, in the year-ago period.

Revenue rose 0.5% from last year to $9.34 billion.

On average, Wall Street analysts expected a much smaller profit of $1.14 per share, albeit on higher sales of $9.51 billion.

Looking ahead, HON narrowed its full-year earnings outlook to a range of $4.45 to $4.50 per share, compared with a prior estimate of $4.40 and $4.55 per share for the year.

Honeywell shares fell $1.17, or -1.9%, in premarket trading Friday.

The Bottom Line
Shares of Honeywell ( HON ) have a 2.43% dividend yield, based on last night's closing stock price of $61.42. The stock has technical support in the $56-$58 price area. The shares are bumping up near all-time highs.

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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This article appears in: Investing Stocks
Referenced Stocks: HON

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