Diversified technology company Honeywell International Inc. (HON - Analyst Report) recently reiterated its outlook for the first quarter and full year 2013 despite the continued macroeconomic headwinds, driven by strong organic and inorganic growth expectations. This led to a spurt in share prices as the stock climbed by 73 cents from the prior-day close to a high of $71.41 on Mar 6.

For the first quarter, Honeywell expects earnings in the range of $1.10 to $1.15 per share with a revenue growth in the low single digits. For full year 2013, the company anticipates total revenue of $39.0 billion to $39.5 billion, while earnings are expected to be in the range of $4.75 to $4.95 per share. The current Zacks Consensus Estimates for the first quarter and full year are pegged at $1.13 and $4.92, respectively.

Management opined that Honeywell is well poised to sustain its growth momentum with a solid business model that focuses on funding plant investments, disciplined acquisitions, expansion in high-growth regions, and state-of-the-art technologies that act as a hedge against stiff competition. The company also expects to remain active on share buybacks and dividend payouts.

Based in Morris Township, NJ, Honeywell manufactures a wide range of aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals and energy efficient products and solutions for homes, business and transportation.

Honeywell organizes its business into four operating segments – Aerospace, Automation and Control Solutions, Performance Materials and Technologies, and Transportation Systems. Honeywell’s diversified business portfolio mitigates operating risks and has the potential to earn consistent above-average returns.

However, Honeywell faces intense competition from industry bigwigs such as China Merchants Holdings (International) Company Limited (CMHHY), Koninklijke KPN N.V. (KKPNF), and Jardine Strategic Holdings Ltd. (JSHLY), each carrying a Zacks Rank #1 (Strong Buy). Honeywell presently has a Zacks Rank #3 (Hold) and we expect an upgrade in the near future with upward revisions in earnings estimates.