Honeywell Stock Falls After Its Revenue, Outlook Disappoint Wall Street [Video]

Honeywell International (HON) shares declined Thursday after the aviation and safety equipment manufacturer missed sales estimates and lowered its revenue guidance as demand for its industrial automation products slumped. 

Honeywell reported third-quarter revenue rose almost 6% year-over-year to $9.73 billion, while analysts surveyed by Visible Alpha were looking for $9.89 billion. Adjusted earnings per share (EPS) of $2.58 exceeded forecasts.

Honeywell’s shares were recently off more than 5%, leaving them up just slightly for the year. The move weighed on the blue-chip Dow.

Sales at its Industrial Automation segment declined 5% to $2.50 billion, which the company blamed on “volume softness in warehouse and workflow solutions and safety and sensing technologies.”

Sales got a big boost from Honeywell’s Aerospace Technology sector, rising 12% to $3.91 billion, led by its defense and space offerings. Sales at its smaller Building Automation and Energy and Sustainability Solutions units were higher by 14% and 1%, respectively.

Chief Executive Officer (CEO)…