I often assume companies that old are succeeding in large part due to enterprise partnership inertia: the "nobody ever got fired for buying IBM" outlook, applied to whatever enterprise customers they happen to serve. If the majority of their profits do turn out to come from individual consumers rather than enterprises, though, then I feel a bit more sanguine about age as a positive signifier.
Honeywell has been in business for 110 years. If you are in business that long you gotta be doing something right! I would assume.