Industrial conglomerate Honeywell International (HON) is a relatively low-profile company, but investors will take the capital gains just the same.

Honeywell's shares, which I first wrote about on February 26, 2009 at a price of $26.86, continue to vector higher, pushing $59 in March, before retreating to $56 recently.

And, needless to add, if you bought in at/near $27, now may be a good time to consider taking some profits with HON.

Goodrich (GR), a company that supplies items to the aerospace and defense industries and whose competitors include Honeywell (HON) and United Technologies Corp. (UTX), issued its fourth-quarter results on Thursday. Friday, the shares hit a new 52-week high of $94.12 during the intraday session; they eventually settled down to $93.09, good for a gain of 0.6%, a move backed by above-average volume.

The 52-week low for the stock is $61.24, so the shares have come a long way over the last 12 months. The chart shows a nice uptrend that emerged from a round of sideways trading. How was the Q4 profit? Does it validate the bullish sentiment?

The shares Honeywell International (HON), which I first wrote about on February 25, 2009, at a price of $26.86, continue to make a bee-line to higher layers of the atmosphere, jumping 20% since late last summer to about $55.

Hence, if you were in near $27, now may be a good time to consider taking some profits. Others who can tolerate the risk can maintain their full position to go for a possible larger capital gain.

General Motors (GM) closed up 12 cents to $33.86 on active December 34 and January 35 calls with total call option volume of 27K contracts compared to 10K puts. December call option implied volatility is at 22, January is at 27, March is at 30, versus its ten-day average of 33, according to Track Data.

Honeywell (HON) announced the increase in its annual dividend by 10% to $1.33 into its 2011 outlook announcement scheduled for 9:00 AM on December 15. Overall option implied volatility of 25 is below its 26-week average of 29, according to Track Data, suggesting decreasing price movement.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Analyst Upgrades

• Piper Jaffray upgraded Red Hat (RHT) to overweight from neutral.
• Honeywell (HON) was upgraded to outperform from neutral at Cowen.
• Regal-Beloit (RBC) and Actuant (ATU) were upgraded to buy from hold at Jefferies.
• RW Baird upgraded MedAssets (MDAS) to outperform from neutral.
• Savvis (SVVS) was upgraded to outperform from market perform at William Blair.

Analyst Upgrades

• Goldman upgraded CSX (CSX) to neutral from sell.
• General Cable (BGC) was upgraded to buy from hold at KeyBanc.
• Morgan Stanley upgraded Chart Industries (GTLS) and Dresser Rand (DRC) to overweight from equal weight.
• Blackrock (BLK) was upgraded to outperform from neutral at Macquarie.
• Credit Suisse upgraded Zions Bancorp (ZION) to neutral from underperform and GameStop (GME) to outperform from neutral.
• Honeywell (HON) was upgraded to outperform from sector perform at RBC Capital.
• Panera Bread (PNRA) was upgraded to buy from neutral at SunTrust.

If in June, during its spring pull-back, you considered adding to shares of Honeywell International (HON), which I first wrote about on February 26, 2009, at a price of $26.86, it proved to be the correct move.

Honeywell has since accelerated out of lows in the $38 to $41 range, and has formed a double-bottom. There is the danger of a double-top forming at/near $49, but the calculation here is that the uptrend is stronger, and should prevail.

Honeywell's revenue will likely increase 6% to 8% in 2010, led by transportation system gains, and a good performance by its automation and control systems unit. (Honeywell makes those round thermostats you see in many homes.)

Well, I didn't make the correct call on Honeywell International (HON) back in April. I thought the stock was going to keep on heading up after hitting a new 52-week high following the release of the company's first-quarter numbers (as I mentioned then, shares were exchanging hands at the time for $47.78). The equity started to go down shortly after my thoughts were published.

As the chart shows, the stock has had some trouble, but it has recently bounced back toward the current 52-week high of $48.63. Patient shareholders who held on and decided to engage a dollar-cost-averaging strategy most likely are doing okay.

Aerospace business Goodrich Corp. (GR), whose related companies include Honeywell International (HON) and United Technologies (UTX), has been a good stock to own this year. The 52-week low for the shares is $53.57 while the 52-week high is $82.18, the latter being made earlier today. With a little more than two hours to go before the end of regular trading activities, the shares were exchanging hands at $79.55, a quote that reflects a gain of over 2%.

The twelve-month chart seems shows an attractive situation. From a technical viewpoint, it does appear as if more upside is in store for the equity. But what about the latest quarterly missive to investors?

Analyst Upgrades

• Piper Jaffray upgraded Duoyuan Global Water (DGW) to neutral from underweight, citing the potential for positive fundamental news flow through the end of the year, and upped its price target to $16 from $9.
• Jefferies upgraded Alcatel-Lucent (ALU) to buy from underperform, expecting a benefit from a significant ramp in EVDO software sales as mobile data growth accelerates.
• Myriad Genetics (MYGN) was upgraded at RBC Capital to outperform from sector perform with a $23 price target based on valuation and potential to be acquired.
• Goldman upgraded Mohawk (MHK) to neutral from sell with a $53 price target.
• Smithfield Foods (SFD) was upgraded to outperform from market perform at BMO capital with a $21 target.
• Priceline.com (PCLN) was upgraded to outperform from market perform at Morgan Keegan.

Analyst Upgrades

• Goldman upgraded Costco (COST) to buy from neutral based on valuation, improving fundamentals and potential catalysts. The firm raised its price target to $68 from $62.
• Soleil upgraded MGM Resorts (MGM) to buy from hold, citing valuation, easing balance sheet concerns and a multiyear convention recovery. The firm upped its target for shares to $14 from $13. Note, Soleil also downgraded Las Vegas Sands (LVS) to hold from buy.
• Piper Jaffray upgraded Phillips-Van Heusen (PVH) to overweight from neutral with a $59 price target following the company's better-than-expected Q2 results.
• Dell (DELL) was upgraded to buy from outperform at CLSA.
• CommScope (CTV) was upgraded to buy from neutral at UBS.
• EnCana (ECA) was upgraded to sector outperformer from sector performer at CIBC.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• Amazon.com Inc. (AMZN) strong Q1 results beat earnings expectations, and yet shares sold off.
• American Express Co. (AXP) reported better-than-expected Q1 earnings, which lifted shares.
• Apple Inc. (AAPL) shares rose to a new all-time high after it said earnings surged 90% in its Q2.
• Coca-Cola Co. (KO) beat Q1 earnings estimates but weaker-than-expected revenue sent shares lower.
• eBay Inc. (EBAY) shares sold off after Q1 earnings were in line with expectations and guidance was weak.

Let's take a quick look at two earnings releases from the past week. We'll start with Amazon.com Inc. (AMZN), an online business that could be a long-term growth story. Then, we'll check out Honeywell International Inc. (HON), an industry conglomerate that hit a new 52-week high.

Amazon has been on the move over the past twelve months. You've got to respect the 52-week range, defined by a low of $73.10 and a high of $151.09. And you've got to like Amazon's latest quarter: net sales increased over 40% in Q1, and net income came in at 66 cents per share, five pennies ahead of the analysts. Also, according to the press release, free cash flow over the past year rose over 60% to $2.3 billion.

Some investors have already made up their minds the stock market rally is over. Others are convinced there's nowhere to go but up. Both views are oversimplified market predictions, considering the complicated economic environment.

A closer look at the latest stock market news proves that while things aren't all coming up roses on Wall Street, there are plenty of reasons to be cautiously optimistic the bull market will continue. Here are three of the latest reasons we learned about in the past few days: strong retail sales, strength in one of the worst housing markets and significant increases in corporate spending and dividends.

Here are some highlights from this past week's earnings coverage on BloggingStocks:

• Acuity Brands Inc. (AYI) Q2 results were essentially flat but an analyst's upgraded helped boost shares.
• Borders Group Inc. (BGP) reported strong Q4 earnings due to cost cutting but revenue continued to decline.
• Cal-Maine Foods Inc. (CALM) received an analyst's downgrade on valuation following release of its Q3 report.
• CarMax Inc. (KMX) rose to a new 52-week high following better-than-expected Q4 earnings and sales results.
• Charming Shoppes Inc. (CHRS) posted a smaller-than-expected Q4 net loss and said same-store sales declined.