Shift

Gains

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<p class="has-drop-cap">Honeywell International Inc. (NYSE: HON) is <a href="https://www.reuters.com/markets/deals/honeywell-spin-off-advanced-materials-business-wsj-reports-2024-10-08/" target="_blank" aria-label="reportedly planning (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">reportedly planning</a> to spin off its advanced materials division, according to a Wall Street Journal report citing people familiar with the matter. The news has sparked investor interest, with Honeywell shares rising 2.3% in <a href="https://tokenist.com/investing/how-to-trade-after-hours/" rel="noopener noreferrer nofollow" class="deco-link">premarket trading</a> to $208.00 as of 5:10 AM EDT on Tuesday, at the time of writing.</p>
<p>This potential move aligns with CEO Vimal Kapur’s ongoing efforts to streamline the company’s portfolio and shift focus towards its aviation, automation, and energy segments.</p>
<h3 id="honeywell-s-potential-strategic-shift">Honeywell’s Potential Strategic Shift</h3>
<p>The advanced materials division, which caters to various industries including retail, pharmaceuticals, buildings, and manufacturing, could be worth more than $10 billion as a separately traded public company. <br><br>The division recorded sales of $3.65 billion <a href="https://www.honeywell.com/us/en/press/2024/02/honeywell-announces-fourth-quarter-and-full-year-2023-results-issues-2024-guidance" target="_blank" aria-label="last year (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">last year</a>, contributing significantly to Honeywell’s diverse portfolio of products ranging from aerospace parts to building automation technology.</p>
<p>This strategic move is part of Honeywell’s broader efforts to restructure its portfolio over the past few years. The company, known for its wide range of industrial products, has been working to optimize its business mix and focus on high-growth areas.</p>
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<h3 id="honeywell-stock-gains-on-spin-off-news">Honeywell Stock Gains on Spin-Off News</h3>
<p>Despite the positive reaction to the spin-off news, Honeywell’s stock has shown mixed performance in recent periods. The company’s year-to-date return of -1.46% underperforms <a href="https://tokenist.com/investing/spx-vs-spy/" rel="noopener noreferrer nofollow" class="deco-link">the S&amp;P 500’s</a> 19.42% gain. However, Honeywell has posted a 1-year return of 12.57% and a 5-year return of 37.81%, though both figures trail the broader market’s performance.</p>
<p>Honeywell’s market capitalization stands at $132.098 billion, with a <a href="https://tokenist.com/investing/p-e-ratio/" rel="noopener noreferrer nofollow" class="deco-link">price-to-earnings ratio</a> of 23.19 and earnings per share of $8.76. <br><br>Analysts have set an average one-year price target of $226.33 for the stock, suggesting potential upside from current levels. The company is scheduled to report its next earnings in October 2024, which may provide further clarity on the rumored spin-off and its impact on Honeywell’s future growth strategy.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/honeywell-shares-jump-on-reports-of-10-b-advanced-materials-spin-off/">Honeywell Shares Jump on Reports of $10 B Advanced Materials Spin-Off</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Honeywell Shares Jump on Reports of $10 B Advanced Materials Spin-Off

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