Honeywell’s Q1 Profit Beats View; Forecast Raised (HON)

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Diversified technology and manufacturing company Honeywell International Inc. ( HON ) 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 Thursday.

The Bottom Line
Shares of Honeywell ( HON ) 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 share.

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