Honeywell’s Q2 Profit Jumps 11% on Higher Revenue; Low End of Forecast Raised (HON)

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Diversified industrial manufacturer Honeywell International Inc. ( HON ) on Wednesday posted better-than-expected second quarter earnings and lifted the low end of its 2012 outlook.

The Morristown, NJ-based company reported second quarter net income of $902 million, or $1.14 per share, compared with $810 million, or $1.02 per share, in the year-ago period.

Revenue rose 3.8% from last year to $9.44 billion.


On average, Wall Street analysts expected a smaller profit of $1.11 per share, albeit on higher revenue of $9.56 billion.

Looking ahead, HON lifted the low-end of its full-year earnings guidance. The company now expects 2012 earnings of $4.40 to $4.55 per share, while analysts are looking for $4.49 per share for the year.

Honeywell shares rose $1.06, or +1.9%, in premarket trading Wednesday.

The Bottom Line
Shares of Honeywell ( HON ) have a 2.73% dividend yield, based on last night's closing stock price of $54.54.The stock has technical support in the $49-$50 price area. If the shares can firm up, we see overhead resistance around the $56-$58 price levels.

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 The NASDAQ OMX Group, Inc.

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