Honeywell International Inc. (HON) was trading down 5.53% in the pre-market session on Thursday following reports that the industrial conglomerate is preparing to split into three independent companies.
According to reports from the Wall Street Journal, Honeywell is expected to announce plans to separate its aerospace division from its automation business, and move ahead with plans to spin off its advanced-materials arm.
The split will likely see Honeywell's aerospace unit, which generated around $15 billion in revenue in 2024, operate as an independent publicly traded company. The automation business, Honeywell's largest unit with around $18 billion in sales, and the advanced materials business with $4 billion in sales, will form the other two independent entities.
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