Honeywell (NYSE:HON) reports 4Q16 earnings ; In Line With Estimate

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Honeywell (NYSE:HON) reports 4Q16 earnings ; In Line With Estimate

Honeywell (NYSE:HON) reported net income for the fourth quarter of $ 1.03 billion or $ 1.34 per share, compared to income $ 1.19 billion or $ 1.53 per share for the year-ago quarter.

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The Morris Plains, New Jersey based company reported fourth quarter adjusted earnings of $ 1.34 billion or $ 1.74 per share.

Revenue for the fourth quarter increased to $ 9.99 billion from $ 9.98 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the Honeywell to earn $ 1.74 per share on revenue of $ 10.15 billion for the fourth quarter.

Honeywell Chairman and CEO Dave Cote, said that for the full year, we delivered earnings growth of 8% (excluding charges for pension mark-to-market and debt refinancing) and drove strong operational segment margin expansion while making significant investments for the future, including over $250 million in incremental Aerospace OEM incentives (the equivalent of four percentage points of EPS).