Honeywell profit rises about 8 pct as costs fall

The company reported $1.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.02.

The cost reductions have helped Honeywell weather a revenue drop at the unit that provides services and chemicals for energy companies, which have cut back on drilling amid plummeting crude prices. Wall Street has been very eager to see how industrial companies use their capital as numerous foreign markets struggle for growth.

The crowd, for its part, projects revenue in line with the Street, on earnings of $1.56 per share.

Traders sold shares of Honeywell global (NYSE:HON) on strength during trading on Thursday, Marketbeat reports. Deutsche Bank restated a buy rating and issued a $113.00 target price on shares of Honeywell worldwide in a research note on Tuesday, August 25th.

For various reasons, Jim Cramer, the current host of Mad Money, has been a fan of several stocks, namely, General Electric Company (NYSE:GE), Honeywell global Inc. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The 52-week low of the share price is at $82.89.

Honeywell global Inc. (NYSE:HON) is a diversified technology and manufacturing company. (NYSE:HON) are both scheduled to announce their respective financial results for the third quarter of fiscal 2015 (3QFY15) before markets open today. Of all companies tracked, Honeywell global had the 0th highest net out-flow for the day. Analysts had been looking for earnings of $1.55 per share and revenue of $9.85 billion per share, a 5% year over year decline.

The company put up a significant beat on revenues of 13.67% in the last quarterly earnings release with a slight beat on EPS. The insider Fradin Roger sold 70,926 shares worth $7.45M. The stock has an average rating of Buy and an average target price of $115.47. The Florida-based fund Suncoast Equity Management is also positive about the stock, possessing 50,000 shares or 5.44% of their stock exposure. The stock was sold at an average price of $106.00, for a total value of $530,000.00. The disclosure for this sale can be found here.

Over the last 6 months, Honeywell worldwide Inc.

Aerospace segment revenue fell 2 percent from the prior year period, sales in the automation and control business declined 3 percent and the performance materials segment was down 13 percent. The company is a premier supplier of avionics, power and control systems for the aerospace industry. Its PMT segment produces and develops process technologies, innovative materials and automation solutions.