Honeywell Profits Jump 8% on Profitable Segment Focus

Honeywell reported a 7.6% jump in earnings over its second quarter after achieving sales growth in all of its divisions. The maker of turbochargers and aircraft parts has also been working to increase margins by refocusing operations on more profitable segments. Those include aerospace and defense and automation and control systems for industrial machinery. The latter segment, for instance, increased sales 10% and profits 14%. Honeywell earned $1.38 a share, $0.02 cents higher than analysts expected. Revenue jumped nearly 6% to $10.25 billion, higher than estimates of $10.18 billion. Management also increased the low-end of EPS guidance. TheStreet's Keris Lahiff reports from New York.