Honeywell Aerospace to join S&P 500 and S&P 100 on June 29

Corporate Action
โดย Investing.com·Read original
Summary · why it matters

Honeywell Aerospace Inc is set to join both the S&P 100 and S&P 500 indices on June 29 upon completion of its spinoff from Honeywell International. The when-issued shares, trading under ticker HONAV, surged 9.4% in after-hours trading following the announcement. Honeywell Aerospace will replace Honeywell International in the S&P 100 and Conagra Brands in the S&P 500, while Conagra Brands will move to the S&P SmallCap 600. The spinoff is structured as a tax-free, pro-rata distribution, with Honeywell shareholders of record as of June 15 receiving one HONA share for every two HON shares held, and the remaining automation business, renamed Honeywell Technologies, executing a 1-for-2 reverse stock split. The index inclusion is expected to broaden the institutional buyer base for the pure-play aerospace and defense company, which management projects will achieve 6-8% annual sales growth.

Impact on stocks 4

Defense & Geopolitical Fragmentation▲ · 1 stocks
Honeywell Aerospace Inc
HONA
▲ PositiveCapitalrelevance

Honeywell Aerospace will join the S&P 500 and S&P 100 upon spinoff completion, expected to attract institutional investors and support a higher valuation.

Consumer Staples▼ · 1 stocks
Conagra Brands, Inc.
CAG
▼ NegativeCapitalrelevance

Conagra Brands is being replaced in the S&P 500 by Honeywell Aerospace and will move to the S&P SmallCap 600, which may reduce its institutional investor base.

Aerospace & Aviation▲ · 1 stocks
Others▲ · 1 stocks

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