In November 2024; a letter from Elliott Investment Management, which holds a significant stake of over $5 billion in the company outlined a strong recommendation and proposal for Honeywell to spin off its Aerospace business into a standalone entity.
Elliott Investment also views Honeywell’s Advanced Materials spin-off as a positive step towards simplification but emphasizes that this action alone is insufficient to address the root complexity of Honeywell’s conglomerate structure. As per them separating the Aerospace and Automation business is crucial to fully address Honeywell’s structural complexity and unlock its true value.