Advertisement. Remove ads.
Industrial and aerospace giant Honeywell (HON) said on Tuesday that it plans to evaluate strategic alternatives for its Productivity Solutions and Services, as well as Warehouse and Workflow Solutions businesses, ahead of its planned separation into three independent companies.
Honeywell shares have gained nearly 6% year-to-date as of Monday’s close.
Productivity Solutions and Services had more than $1 billion in revenue in 2024 and is a provider of mobile computers, barcode scanners, and printing solutions serving the warehouse and logistics markets.
Its Warehouse and Workflow Solutions business generated nearly $1 billion in revenue in 2024 and offers supply chain and warehouse automation projects, services, and products. The business operates commercially under the brand names Intelligrated and Transnorm.
“With a simpler and more cohesive portfolio that serves the end markets of buildings, process and industrials, Honeywell will focus on our core areas of automation expertise,” CEO Vimal Kapur said.
In February, Honeywell announced that it would split into three publicly listed companies after activist investor Elliott Management took a $5 billion stake in the industrial giant.
The company plans to separate its aerospace and automation businesses into separate entities alongside the initially announced spin-off of the advanced materials unit.
Honeywell also announced the appointment of industry veteran Jim Masso to lead its process automation business. Masso will serve as the CEO of Honeywell Process Automation, effective July 14, 2025.
He was most recently the CEO of Allied Power Group and previously held several senior leadership roles at General Electric.
The retail sentiment on Honeywell stock was ‘extremely bullish,’ compared to ‘bullish’ a week ago, according to Stocktwits data.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
Also See: GE Vernova Nears Record High After UBS Initiates ‘Buy’ With 15% Upside Price Target