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The aerospace unit is Honeywell's biggest revenue generator, accounting for about 40% of the company's total revenue in 2024, and counts Boeing and Airbus among its customers.
Honeywell said that it may calve its aerospace division from the conglomerate, sending shares up more than 2% before the opening bell Monday. The announcement arrives about one month after Elliott ...
Elliott's central argument is that Honeywell's conglomerate structure is no longer suitable, and separating the company into two new companies focused on aerospace and automation is in the best ...
Honeywell C-1 autopilot control panel Minneapolis-Honeywell Aeronautical Division logo from 1944. Garrett AiResearch's (now part of Honeywell) first major product was an oil cooler for military aircraft that allowed the Douglas DB-7, and Boeing's B-17 and B-25 bombers to fly at higher altitudes. [19]
Activist investor Elliott Investment Management has taken a more than $5 billion stake in Honeywell International and is calling for the industrial conglomerate to split into two separate companies.
A breakup will split the conglomerate in a way it hasn't seen before.
The review includes exploring strategic alternatives, such as a potential separation of its Aerospace business. Honeywell plans to share updates with its fourth-quarter 2024 earnings release.
Honeywell's (HON) acquisition of Rocky Research is anticipated to enhance its product offerings in the power and thermal management space. It will be part of Honeywell's Aerospace segment.