Honeywell Board Approves Aerospace Spinoff, Distribution Set for June 29

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Honeywell's board of directors has formally approved the spinoff of its aerospace unit, setting a distribution date of June 29 for the new entity's shares. Shareholders of record as of June 15 will receive one share of Honeywell Aerospace for every two shares of Honeywell held, with the new company trading under the ticker HONA. The remaining automation-focused business will operate as Honeywell Technologies and continue trading under HON, accompanied by a 1-for-2 reverse stock split. The move completes a multi-year portfolio transformation under CEO Vimal Kapur, which also included the recent IPO of quantum computing unit Quantinuum. Honeywell shares rose on the news, closing at $227.41 on June 15 and reaching a session high of $234.70 in subsequent trading, as investors anticipate the separation will unlock value by creating two pure-play entities.

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