Honeywell (HON) Split: Everything You Need to Know Before the June 29 Aerospace Spinoff

Key Takeaways

Table of Contents

Honeywell maintains its 2026 revenue projection of $38.8B–$39.8B with EPS forecast between $10.35–$10.65
The aerospace business separates June 29, launching under ticker symbol “HONA”
Remaining Honeywell Technologies entity projects 2026 revenue of $19.9B–$20.2B with EPS of $3.95–$4.15
Shareholders receive one HONA share per two HON shares owned
HON shares declined 0.4% to $214.91 Monday, though up 10% in 2026

One of the most significant corporate separations in recent years is just weeks from completion. On Monday, the industrial powerhouse confirmed its aerospace division spinoff remains scheduled for June 29, creating two distinct publicly listed entities.

Honeywell International Inc., HON

During Monday’s announcement, executives reiterated their full-year 2026 projections. The company continues to anticipate revenue between $38.8 billion and $39.8 billion, alongside adjusted earnings per share ranging from $10.35 to $10.65—marking year-over-year expansion of 6% to 9%. Analyst consensus stood at $39.4 billion in revenue and $10.52 EPS, indicating management’s targets align with market expectations.

Shares traded at $214.91, slipping 0.4%, as the S&P 500 advanced 0.9% during the same session. Year-to-date in 2026, the stock has climbed 10%, though it’s remained relatively stagnant over the trailing twelve-month period.

The aerospace segment will operate under ticker “HONA” and anticipates approximately $19.3 billion in 2026 revenue with operating income near $4.9 billion. During last week’s investor presentation, aerospace leadership projected standalone operating income of $4.7 billion to $4.8 billion, targeting expansion beyond $6.5 billion by decade’s end.

Shareholders will receive a 1-for-2 distribution—one HONA share for each two Honeywell shares held. The separated entity is anticipated to commence when-issued trading approximately one to two weeks prior to the official June 29 separation date.

Honeywell Technologies Post-Separation Overview

The continuing entity, Honeywell Technologies, retains the “HON” ticker symbol. Management projects 2026 revenue of $19.9 billion to $20.2 billion with adjusted earnings per share of $3.95 to $4.15, accompanied by organic revenue growth of 2% to 3%.

These projections exclude aerospace segment results and incorporate planned asset sales plus the forthcoming Johnson Matthey Catalyst Technologies acquisition, slated to finalize in the third quarter. The company reduced that transaction’s purchase price from $2.42 billion to $1.79 billion earlier this year following underperformance by the catalyst division.

This April, the company announced a $1.4 billion divestiture of its productivity solutions and services operation to Brady, encompassing barcode scanning equipment, mobile computing devices, and associated software platforms.

Additional Financial Targets Forthcoming

Honeywell Technologies plans to unveil comprehensive long-term financial objectives during a dedicated investor presentation Thursday, providing additional clarity on the automation-centered company’s standalone trajectory.

Last autumn, the company had previously separated its advanced materials division as Solstice Advanced Materials. The aerospace separation timeline accelerated earlier this year following CEO Vimal Kapur’s commentary on advancement in the corporation’s portfolio transformation strategy.

The June 29 completion timeline remains unchanged.

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