Diversified U.S. manufacturer Honeywell International Inc posted a 15 percent drop in profit on weak demand for systems used in commercial buildings and aircraft.

The world's biggest maker of cockpit electronics on Friday reported third-quarter profit of $608 million, or 80 cents per share, compared with $719 million, or 97 cents per share, a year earlier.

Revenue fell 17 percent to $7.7 billion.

It held its full-year profit target steady at $2.85 per share.

The Morris Township, New Jersey-based company has faced declining demand for its thermostats and other control systems as commercial construction has slowed around the world. Its aviation unit has also been hit by declining air travel.

So far this year, Honeywell shares are up about 13 percent, lagging the 14 percent rise of the Standard & Poor's capital goods industry index <.GSPIC>.

(Reporting by Scott Malone; Editing by Derek Caney)

New Jersey Electronics