Honeywell CEO thinks deals still too expensive-FT

June 12 (Reuters) - The diversified U.S. manufacturer Honeywell International Inc (HON.N) was looking out for takeovers but thought deals were too expensive as valuations did still not reflect the true nature of the market, its chief executive told the Financial Times.

"It is a very easy time to overpay right now because you have to remind everybody that it's not last year anymore, it is this year," Honeywell CEO Dave Cote told the Financial Times in an interview.

The paper said Cote, who serves on President Barack Obama's stimulus task force, also criticised the idea of governments interfering in executive pay.

"Governments don't get involved with what athletes get paid, (they) shouldn't be getting involved with what managers get paid," the paper quoted Cote as saying. (Reporting by Esha Dey in Bangalore; Editing by Dhara Ranasinghe)