Honeywell Gives Muted '15 Revenue Forecast

Honeywell International Inc, a maker of aircraft parts and electronic equipment, forecast lower-than-expected sales for the next year, citing slow global economic growth.

The company gets more than half of its total revenue from outside the United States.

Honeywell said it expects sales of $40.5 billion-$41.1 billion and a profit of $5.95-$6.15 per share for 2015. The company reaffirmed its 2014 profit forecast.

Analysts on average were expecting a profit of $6.11 per share on revenue of $41.92 billion for 2015, according to Thomson Reuters I/B/E/S.

The Morristown, New Jersey-based manufacturer said it expects a 1 percent fall in U.S. defense spending next year. Defense contracts contributed about 12 percent to total sales in 2013.

Sales at its biggest business, aerospace, are expected to rise 2-3 percent organically, the company said.

The company also cut its fourth-quarter revenue forecast to $10.1 billion-$10.2 billion from $10.3 billion-$10.4 billion, due to its decision to fund incentive programs in its aerospace business in the quarter.

Honeywell's shares rose marginally in premarket trading on Monday. The stock had risen about 5 percent this year up to Friday's close of $95.88. (Reporting by Rohit T. K. in Bengaluru; Editing by Don Sebastian and Siddharth Cavale)