Diversified technology and manufacturing company Honeywell
International Inc. (
) late Wednesday posted better-than-expected first quarter earnings
and raised its full-year outlook.
The Morristown, NJ-based company reported first quarter net
income of $708 million, or 88 cents per share, compared with $496
million, or 63 cents per share, in the year-ago period.
Revenue jumped 15% from last year to $8.91 billion.
On average, Wall Street analysts expected a smaller profit of 82
cents per share, on matching revenue of $8.91 billion.
Looking ahead, the company boosted its 2011 full-year adjusted
earnings forecast to a range of $3.80 to $3.95 per share, up from a
prior estimate of $3.60 to $3.80. Analysts expect $3.78 per share
for the year.
Honeywell shares rose $1.27, or +2.2%, in premarket trading
The Bottom Line
Shares of Honeywell (
) have a 2.26% dividend yield, based on last night's closing stock
price of $58.74. The stock has technical support in the $55 price
area. The stock is trading near all-time high levels of $60 a
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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