Honeywell to deploy $10 billion for M&A

A Billion Dollars

Honeywell CEO David Cote also reaffirmed the company's first quarter and full-year 2014 outlook-in a CNBC interview Wednesday, ahead of the company's investor conference.

"We're still up about 10 percent in earnings; about 3 percent or 4 percent in sales. So [we're] getting a very good leverage," Cote said on " Squawk Box ."

He also said the diversified aerospace and technology is targeting double-digit earnings growth over the next five years, while hoping to deploy more than $10 billion in that time frame.

The money would be used for acquisitions, Honeywell said in a statement.

(Read more: Honeywell targets over $50B sales by 2018, M&A ramp-up )

-By CNBC's Matthew J. Belvedere . Follow him on Twitter @Matt_SquawkCNBC . Reuters contributed to this story.

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