Honeywell sets target of over $50 billion in sales by 2018

March 5 Wed Mar 5, 2014 6:56am EST

March 5 (Reuters) - Honeywell International Inc on Wednesday set a target of increasing overall company sales to more than $50 billion by 2018 through organic growth and acquisitions as it continues to expand profit margins.

The U.S. diversified manufacturer of aerospace parts and climate control and security systems also said it expects earnings to grow at a double-digit pace in percentage terms over the next five years. Honeywell, which reported $39.1 billion in sales in 2013, released the new five-year targets ahead of its investor conference in New York.