* Honeywell profit meets views, but company trims outlook
* Boeing off after downgrade
* New home sales data on tap
By Ellis Mnyandu
NEW YORK, July 27 (Reuters) - U.S. stock index futures were little changed on Monday as reduced outlooks from diversified manufacturer Honeywell Inc and health insurer Aetna Inc sparked caution.
Honeywell shares fell 2.4 percent to $33.18 before the bell after the company cut its full-year profit forecast to the bottom of its prior range.
No. 3 U.S. health insurer Aetna cut its full-year earnings outlook due to higher-than-projected medical costs and posted a 28 percent drop in second-quarter net income. The stock slid 12 percent to $23.30.
With the broader market up nearly 45 percent since it hit 12-year lows in early March, some investors were likely to book profits as they reassess the sustainability of the latest run-up.
"Honeywell said the outlook remains cloudy, setting the stage for a mixed session today," said Peter Cardillo, chief market economist at Avalon Partners in New York. "The market has come up rather sharply, so obviously it is poised for some profit-taking."
S&P 500 futures shed 2.20 points and were about even with fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 4 points, and Nasdaq 100 futures fell 2.50 points.
Boeing Co was set to be among the market's top drags after Barclays cut its rating on the planemaker's shares. The stock dropped 1.3 percent to $41.80 before the bell.
In other earnings-related news, Verizon Communications Inc , the biggest U.S. mobile service service, posted a smaller quarterly profit, but revenue rose due to wireless subscriber growth and its purchase earlier this year of rural wireless operator Alltel.
Verizon shares initially rose 7 percent to $31.90, but the bounce quickly faded, sending the stock to nearly unchanged.
New home sales data is due at 10 a.m. (1400 GMT).
All three major U.S. stock indexes recorded a second consecutive weekly gain last week. Since hitting multi-year lows in early March, the S&P 500 has jumped 44.8 percent, the Nasdaq has surged almost 55 percent, and the Dow has risen about 39 percent.