Honeywell ( HON) shares jumped 4% early Friday after the industrial giant posted solid gains in fourth-quarter profits, with double-digit sales growth across all of its divisions.The Morris Township, N.J., company reported fourth-quarter earnings of $689 million, or 91 cents a share, up from $585 million, or 72 cents a share, a year earlier. The results were in line with Thomson Financial's average analyst estimate. Honeywell's sales rose to $9.28 billion from $8.28 billion a year earlier, exceeding Wall Street's forecast of $8.94 billion. The company's largest division by revenue, automation and controls, saw a 13% sales increase to $3.44 billion. The aerospace division posted an 11% sales rise to $3.27 billion. Specialty materials revenue rose 14% to $1.24 billion, while transportation systems revenue increased 11% to $1.33 billion. The results came amid fears of an economic slowdown in the U.S. spreading worldwide. So far Honeywell, like other diversified conglomerates, has been able to offset any U.S. weakness with growth abroad. "While we anticipate softer global economic conditions in 2008, we remain confident in Honeywell's ability to outperform," said Chairman and CEO Dave Cote. "We will continue to invest in innovation, expand globally, and execute on productivity initiatives to drive double digit earnings per share growth and higher free cash flow in 2008." Shares of Honeywell were up $2.25 to $58.45 in premarket trading Friday.