Diversified manufacturer Honeywell International Inc
The world's largest maker of cockpit electronics said it would sell its automotive consumer products group to privately held Rank Group for $950 million.
Honeywell raised its 2011 profit forecast by 10 cents to a range of $3.60 to $3.80 per share.
The company posted fourth-quarter earnings of $369 million, or 47 cents per share, up from $150 million, or 20 cents per share, a year earlier.
Factoring out 40 cents per share of pension-related charges, the company earned 87 cents per share in the quarter, meeting Wall Street's expectations, according to Thomson Reuters I/B/E/S.
Revenue rose 12 percent to $9.04 billion.
The Morris Township, New Jersey-based company said in November that it would change its pension accounting approach to more closely match that of its peers. The shift to mark-to-market accounting means it will book gains and losses in the portfolio as they occur, rather than smoothing them over a three-year period.
(Reporting by Scott Malone; Editing by Lisa Von Ahn)