Honeywell Lifts Outlook
Recently there has been concern and talk of the defense sector drying up due to the coming November elections. True to form, defense spending is seen to slow as it gets closer to election time. Understandably, the sector is nervous about the policies of the new administration. Government spending and policies are a major part of this sector. However, even with tensions running high, Honeywell (NYSE: HON) recently lifted its outlook for the year. The company added 5 cents to its 2012 earnings outlook, putting together a new estimate of $4.40 to $4.55 per share. The company cited continued investment in new products, technologies, and initiatives as reasons for the change. In addition to this lifted outlook, Honeywell also posted an 11% higher second quarter profit in its earnings report.