On January 14th, insiders revealed that Honeywell will push for a spin off after pressure from activist investor Elliott Investment Management. According to sources, Honeywell plans to split into two independent publicly traded companies, one focused on automation and the other on aerospace and defense. Honeywell may officially announce the above plan in its fourth quarter financial report to be released in early February. Due to the discussion of confidential information, informed sources requested anonymity. According to sources, the final details are still pending approval from the company’s board of directors. Over the past 12 months, Honeywell’s stock price has risen by over 11%, with a market value of approximately $143 billion. But the stock’s performance lags behind the S&P 500 index, which rose more than 20% during the same period. (Bloomberg)
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