NEW YORK (TheStreet) -- Shares of Honeywell International (HON) - Get Report are gaining by 3.72% to $101.61 in early afternoon trading on Friday, after the diversified technology and manufacturing company reported a 10% year over year rise in its quarterly earnings per share results.
Earlier this morning the company reported its fiscal 2015 fourth quarter earnings results and posted adjusted earnings of $1.58 per share on revenue of $9.98 billion. Revenue for the latest quarter had declined by 2% when compared to the same period last year.
Analysts surveyed by Thomson Reuters had forecast for earnings of $1.58 per share on revenue of $9.98 billion for the three month period ended December 2015.
TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUScharitable trust, commented on Honeywell's earnings saying: "Honeywell is proof that the aerospace cycle is alive and well and I think it is a reminder of how there's always a franchise within the Honeywell family that gives you upside . Dave Cote is one great CEO"
The company's aerospace sales increased by 3.7% to $3.98 billion for the quarter due to strong jet deliveries and margin expansion amid cost cuts.
"We are planning conservatively in 2016 as we are expecting another year of slow global economic growth. But, we remain confident in Honeywell's ability to outperform. We will support growth where there are opportunities to drive outperformance, be cautious in our sales planning, plan costs and spending conservatively, and continue to support the seed planting for new products, services, geographies, and process improvements that allow us to perform well now and in the future," Honeywell CEO Dave Cote said.
Separately, TheStreet Ratings has a "buy" rating and score of A- on Honeywell International stock. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that it covers.
The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. TheStreet Ratings feels its strengths outweigh the fact that the company shows low profit margins.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: HON