Diversified manufacturer Honeywell International Inc posted a better-than-expected quarterly profit on Thursday, helped by strong sales of automobile turbochargers in the United States and China.The company, which also makes airplane cockpit parts, chemicals for the energy industry and scores of other electronics and equipment, said it is "cautiously optimistic" on the health of the global economy and that it still expects profit to rise at least 9 percent this year."We remain confident in our outlook and intend to perform better than our peers," Chief Executive Dave Cote said in a statement.One of the company's brightest spots during the quarter was its Transportation Systems unit, which saw profit jump 39 percent, helped largely by demand for turbochargers, devices that boost an engine's torque.
Honeywell International Inc. (Honeywell) is a diversified technology and manufacturing company, serving customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation. Shares of HON remained unchanged at $93.30. In the past year, the shares have traded as low as $70.92 and as high as $95.91. On average, 3160870 shares of HON exchange hands on a given day and today's volume is recorded at 123.
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