NEW YORK ( TheStreet)-Readers of my articles know that I'm becoming more obsessed with quality companies with good track records that are shareholder friendly.Honeywell ( HON) is a Fortune 100 company that invents and manufactures technologies to address some of the world's toughest challenges. Those challenges are tied to global macro trends such as energy efficiency, clean energy generation, safety and security, globalization and customer productivity. That alone has my attention! With approximately 132,000 employees worldwide, including more than 22,000 engineers and scientists, HON has a potent focus on its performance, quality, delivery, value and technology. HON has caught the eyes and captured the hearts of investors both big and small. That's part of the reasons why it hit a 52-week high of $81.65 on July 9. Another reason has to do with being in the right business at the right time. You see, HON makes and sells airplane parts, which is the main driver of its aerospace segment. Airlines are either ordering a lot of new planes this year or updating the planes already in service. This is good news for a company like Honeywell. It's also helping to drive up the share price of companies like Boeing ( BA). BA hit a 52-week high of $105.65 on July 9, as well. Boeing is basking in the light of a record backlog of nearly $324 billion in its commercial airplanes division. It saw year-over-year quarterly earnings growth in the first quarter of nearly 20%. On July 24, when the company makes its next quarterly report, analysts are estimating a 23% increase. Honeywell is benefiting from BA's earnings leadership in aerospace; HON derives about a third of its earnings from its own aerospace activities. It reports its second quarter financial numbers July 19. Keep in mind HON also derives about 43% of revenue from its automation and controls business. This segment should continue to thrive, with the boom in home building and the push for energy efficiency in existing building of all genres. As TheStreet's research department recently noted, "Under the leadership of CEO Dave Cote, the company has restructured, sold noncore assets and implemented 'six sigma' quality-control processes throughout the organization.