Honeywell to deploy $10 billion for M&A over 5 years

Honeywell CEO: Our 5-year plan
Honeywell CEO: Our 5-year plan   

Honeywell International Chairman and CEO David Cote 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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