(Adds details on full year sales forecast)
Oct 20 (Reuters) - Honeywell International Inc raised it full-year sales forecast as its aerospace business sees higher demand for spare parts and services such as maintenance from the airline industry.
Honeywell's shares rose as much as 1.5 percent to a record high of $145.80 in morning trading on Friday.
The company now expects total sales of $40.2 billion to $40.4 billion from $39.3 billion to $40.0 billion estimated previously. Full-year sales growth forecast, excluding acquisitions and divestitures, was raised to 3-4 percent from 2-4 percent.
The company's performance materials and technologies (PMT) division, which makes catalysts and adsorbents used for petroleum and refining industries among other things, is also benefiting as demand from oil and gas industry remains robust.
Last week, the company said it would pare its focus to four business lines, including aerospace, and spin off two businesses with $7.5 billion in revenue to help fund acquisitions.
The company was under pressure from activist investor Daniel Loeb and his hedge fund Third Point LLC to spin off its aerospace business.
Sales in Honeywell's aerospace business, its biggest, rose 4 percent on an organic basis in the third quarter ended Sept. 30, while its PMT unit's sales jumped 10 percent in the quarter.
Net income attributable to Honeywell rose to $1.35 billion, or $1.75 per share, in the quarter ended Sept. 30 from $1.24 billion, or $1.60 per share, a year earlier.
Revenue rose 3.2 percent to $10.12 billion.
The U.S. industrial conglomerate also reaffirmed its full-year forecast for adjusted earnings per share. (Reporting by Ankit Ajmera and Arunima Banerjee in Bengaluru; Editing by Anil D'Silva)