From the thermostat on your wall to the advanced avionics sitting in an airliner's instrument stack, Honeywell International ( HON) has its hands in a wide array of manufacturing businesses. Other units include factory automation products, security systems, and advanced materials. That diversification is attractive for HON shareholders. It means that this industrial name isn't beholden to the economic health of any individual industry. Honeywell specializes in carving out well-defined niches. For example, the firm is the standard-bearer in the general aviation and regional jet avionics business, tailoring systems to those smaller aircraft, and ensuring that pilots are more familiar with Honeywell's systems. A renewed emphasis on specialty materials and chemicals offers some attractive growth prospects for Honeywell. The firm's products include safety applications (such as bullet-proof vests) as well as applications in the energy industry, two areas where demand should remain high in the coming years. An acquisition spree in the last several years has left Honeywell with big intangible balances on its balance sheet, something that the firm will need to work away at each quarter. That said, its hefty $6 billion in cash and investments substantially offsets a manageable $8 billion total debt load. And it leaves ample room for the firm to pay out its 2.4% dividend yield. With rising analyst sentiment in shares of HON, we're betting on this Rocket Stock right now.