Honeywell International (HON) said Thursday it will split into three independent companies, becoming the latest storied conglomerate to plan a breakup.

The conglomerate, which launched a strategic review early last year, said it is planning to separate its aerospace division from its automation business and would proceed with plans to spin 💖off its advanced-materials arm.

The aim, the company said, is to create three standalone public companies that among other things will have a "simplified strategic focus" as well as increased financial flexibility. The break out of the automation and aerospace businesses w𝕴ill be completed by the second half of 2026.

"The formation of three independent, industry-leading companies builds on the powerful foundation we have created, positioning each to pursue tailored growth strategies, and unlock significant value for shareholders and customers," 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Vimal Kapur said, adding that the companies had a "rꦇich pipeline of strategꦓic bolt-on acquisition targets."

Honeywell Projects 2%-6% Adjusted EPS Gains Nex🎃t Year

The announcement follows the completion last year of General Electric's 澳洲幸运5官方开奖结果体彩网:three-way breakup as well as 澳洲幸运5官方开奖结果体彩网:pressure from activist investor Elliott Investment Management for Honeywell to split. Elliott Partner Marc Steinberg and Managing P𝓀artner Jesse Cohn backed the split plan Thursday and said in the Honeywell press release that the company's breakup would offer "valuation upside."

Honeywell reported mixed results for the fourth quarter. Its fourth-quarter revenue of $10.1 billion, up 7% year-over-year, and adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.47 topped Visible Alpha estimates. EPS of $1.96 unde꧑rshot forecasts, however. Honeywell said it expects 2025 adjusted EPS of between $10.10 and $10.50, up between 2% and 6%.

The Wall Street Journal previously reported the breakup plan. Its report said that GE’s aerospace, 🅰energy and he🦹althcare units, which now trade separately, have a market value nearly four times that of GE in 2022 before the breakup.

Honeywell𒁏 shares fell almost 6% Thursday and are up 8% in the past🐼 year.

UPDATE—Feb. 6, 2025: This article has been updated to include refreshed share prices.