Fund Manager Elliott Demands Separation of Honeywell's Aerospace Business | Aviation International News

Finance, Taxes, Insurance

Fund Manager Elliott Demands Breakup of Honeywell Group

Letter to Honeywell's board says Aerospace unit should run as a standalone business

Honeywell test aircraft — Honeywell Aerospace invests heavily in technology development work in many areas of aviation, including avionics and propulsion.

By Charles Alcock • Managing Editor

November 13, 2024

Fund manager Elliott Investment Management wants Honeywell broken up, with the group’s aerospace division established as a separate business. Yesterday, Elliott wrote to the board of Honeywell International calling for “a simplification of Honeywell’s conglomerate structure” in a move that it said would boost the share price over the next two years by between 51% and 75%.

“Uneven execution, inconsistent financial results, and an underperforming share price have diminished the company’s strong record of value creation over the last five years,” Elliott argued. It pointed out that the funds it manages have invested more than $5 million in the industrial group, which is active in many sectors beyond aerospace and defense.

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