NEW YORK (TheStreet) -- Honeywell(HON) - Get Report is getting a 2% boost Friday after the conglomerate reported a 9% increase in earnings, topping analysts' expectations. Shares are currently trading at close to $106.

Honeywell said it earned about $1.2 billion, or $1.51 a share, up from $1.1 billion, or $1.38 a share a year ago. Revenue slipped to about $9.78 billion from $10.25 billion. Analysts had expected earnings of $1.49 a share on revenue of about $9.74 billion, according to Thomson Reuters. The company attributed the decrease in sales to the unfavorable impact of foreign currency as well as its Friction Materials divestiture.

Honeywell Chairman and CEO Dave Cote said in a statement, "Honeywell had a terrific second quarter, capping off a strong first half of 2015. We delivered 3% core organic sales growth and had another quarter of double-digit earnings growth when normalized for tax."

He said there was also growth in the aerospace, commercial and industrial businesses, among others.

The company raised the low end of its full-year earnings guidance by 5 cents to a range of $6.05-$6.15 a share. Cote said Honeywell remains committed to its full-year core organic sales growth and free cash flow estimates.

TheStreet Ratings team rates HONEYWELL INTERNATIONAL INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate HONEYWELL INTERNATIONAL INC (HON) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow."

You can view the full analysis from the report here: HON Ratings Report