Honeywell sees profit rise 22% in 1st quarter

Diversified manufacturer Honeywell International Inc. on Friday reported that first-quarter profit rose 22 percent on higher sales, beating Wall Street forecasts.

Honeywell, which has an automotive filter plant in Clearfield, raised its sales forecast and the lower end of its earnings forecast for the year, sending its shares up more than 6 percent in midday trading.

The company, based in Morris Township, N.J., said earnings increased to $643 million, or 85 cents per share, in the three months ended March 31 from $526 million, or 66 cents per share, a year earlier.

Revenue climbed 11 percent to $8.9 billion from $8.04 billion a year earlier.

Honeywell's shares rose $3.59, or 6.3 percent, to close at $60.99 Friday.