Honeywell International Inc.’s stock fell 4.5% Thursday, after the aerospace and technology company missed third-quarter sales estimates and lowered its guidance, offsetting a profit beat. Charlotte,

Honeywell International missed third-quarter revenue estimates Thursday as demand for its industrial automation products declined.

Honeywell International’s (NASDAQ:HON) stock fell 2.9% in premarket trading Thursday after the aerospace and technology missed quarterly sales estimates and revised its guidance downward. Net income was $1.

Honeywell posted better-than-expected earnings, but the underlying business results were less impressive. The company continues to make moves to improve its business mix, but investors should wait for concrete evidence the plan is working before buying in.

Honeywell reports third-quarter adjusted earnings of $2.58 a share, better than Wall Street estimates of $2.51.