Shares of Honeywell International Inc. fell in extended trading Monday after the conglomerate cut its outlook for the months ahead, citing the costs of investing in a new tech-focused collaboration with jet maker Bombardier announced earlier in the day.

Honeywell International cut its full-year sales and earnings outlook following an aviation technology partnership the conglomerate struck with Canada's Bombardier.

Honeywell on Monday cut its profit and sales forecasts for the fourth quarter and the full year to take into account investments associated with an agreement to provide aviation-related technology for Bombardier's aircraft.

HON is set to offer Bombardier its state-of-the-art aviation technologies for the latter's existing and future aircraft.

With the new agreement, Honeywell will provide Bombardier with advanced technology for current and future aircraft. As the companies enter into a new agreement, a years-long lawsuit is settled.

Honeywell International signed a strategic agreement with Bombardier, prompting the industrial conglomerate to once again cut its guidance and its stock price to fall.

Bombardier Inc. (“Bombardier”) today confirmed that it has reached an agreement to settle its lawsuit against Honeywell International Inc. (“Honeywell”) that it initially filed in 2016 before the Superior Court of Québec.