After Friday's 10.8% moonshot , General Electric sells for 16x 2015 estimated earnings, writes Avi Salzman , a pretty rich multiple considering the company's industrial businesses have boosted operating earnings by an average 1.4% annually for the last four years. United Technologies trades at a 16 multiple, but has grown operating earnings by an average 4.9% over that period, and Honeywell sells for 17x after growing earnings by an average 16%.