Honeywell (HON - Get Report) is a global diversified industrial company which manufactures a wide array of products for the aerospace, defense, automotive and housing industries as well as specialty chemicals and materials. While the future of defense spending in the U.S. is uncertain, we know that aerospace, automotive and housing is on the uptick. Pure chemical and materials plays like Eastman Chemical (EMN) are exhibiting growth.
Honeywell drives strong cash flow, which has resulted in annual dividend increases of about 8% to 10% on a consistent basis, with the exception of 2010, which can be attributed to the recession.
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