Honeywell International Inc. operates in industrial automation, building automation, and energy and sustainability solutions across the United States, Europe, and internationally. Its Industrial Automation segment offers automation control and instrumentation, smart energy products, sensing technologies, gas detection and personal protective equipment, and system design automation software. The Building Automation segment provides building control and optimization software, energy management sensors and controls, access control, video surveillance, fire products, and installation and maintenance services. The Energy and Sustainability Solutions segment, through its UOP business, delivers licensed process technology, equipment, engineering, catalysts, adsorbents, and services for refining, petrochemicals, low-carbon energy, gas and LNG, and industrial solutions, along with connectivity, data integration, and software. The company was formerly known as AlliedSignal, Inc., was founded in 1885, and is headquartered in Charlotte, North Carolina.
Aerospace spinoff approved, distribution set for June 29 Honeywell's board approved the spinoff of its aerospace unit, with shares to be distributed on June 29. Shareholders get one Aerospace share for every two Honeywell shares. The remaining automation business becomes Honeywell Technologies. This creates two focused companies, which investors often reward with higher valuations.
This is the central event reshaping Honeywell and directly impacts its stock via the separation.
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Honeywell Aerospace to join S&P 500 and S&P 100 After the spinoff, Honeywell Aerospace will be added to the S&P 500 and S&P 100, replacing Conagra and Honeywell International, respectively. Honeywell Technologies remains in the S&P 500. Index inclusion often boosts demand for shares as funds tracking these indices must buy them.
Index changes affect stock demand and liquidity, directly influencing HON's price.
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Honeywell technology selected for renewable fuels project in Brazil Honeywell's Ecofining technology and automation systems will be used in a new renewable fuels plant in Brazil, producing sustainable aviation fuel and renewable diesel. This win showcases demand for Honeywell's green technologies and supports its automation segment's growth.
This new contract demonstrates real demand for Honeywell's products, supporting future revenue.
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Gabelli picks Honeywell for multi-year missile production surge A portfolio manager highlighted Honeywell as a key beneficiary of increased U.S. missile and aircraft production, noting its navigation hardware is in 11 of 12 top weapons systems. The aerospace spinoff is seen as a catalyst. This points to strong defense demand for Honeywell's aerospace unit.
Analyst endorsement based on defense demand signals potential revenue growth for Honeywell's aerospace business.
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Honeywell's defense wins offset by tariff and supply headwinds
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Morgan Stanley upgrade lifts Honeywell Aerospace Morgan Stanley upgraded Honeywell Aerospace to Overweight with a $205 price target, sending shares up 2.8%. This vote of confidence from a major bank can attract more investors and support the stock price.
This is a new analyst upgrade that directly boosts investor sentiment and the stock price.
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Saudi arms deal includes Honeywell engines The U.S. approved a $5.75 billion arms sale to Saudi Arabia, with Honeywell as principal contractor for $750 million of AGT-1500 tank engines. This adds to Honeywell's international defense business, though the deal is too small to significantly move short-term results.
This is a new defense contract win that supports Honeywell's revenue outlook.
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Canada's retaliatory tariffs hit Honeywell exports Canada imposed tariffs of 15% to 50% on about C$27.6 billion of U.S. goods, including electronics. This raises costs for Honeywell's exports to Canada, potentially reducing sales and pressuring profit margins.
This is a new trade barrier that directly affects Honeywell's costs and demand.
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Bombardier U.S. sales ban threat weighs on Honeywell A potential ban on Bombardier aircraft sales in the U.S. could disrupt the aerospace supply chain. Honeywell powers Bombardier's Challenger 300/350/3500 family, so a halt would reduce demand for its engines, hurting future revenue.
This is a new risk that could lower demand for Honeywell's engines.
Q3 2026
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Honeywell completes breakup, but tariffs and weak automation weigh on shares
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Four-way breakup completed; strong first standalone quarter Honeywell finished splitting into four companies, becoming a pure automation business. Its first solo quarter beat estimates with 16% organic order growth and a roughly $20 billion backlog, showing solid demand.
This is the period's biggest strategic event and a key positive driver.
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Shares fall 6% on spin-off noise and Process Automation decline Despite the breakup, Honeywell shares dropped 6% during the quarter. Process Automation revenue fell 6%, and lingering confusion around the spin-off weighed on investor sentiment.
This explains the main negative price move during the period.
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Aerospace upgrade and Saudi deal offset by small size Morgan Stanley upgraded Honeywell Aerospace to Overweight with a $205 target. A Saudi arms deal named Honeywell principal contractor for $750 million in tank engines, but it's too small to materially move results.
These are notable analyst and contract developments, though their impact is limited.
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Canadian tariffs and potential Bombardier ban threaten margins and demand Canada imposed 15–50% retaliatory tariffs on U.S. electronics, raising Honeywell's export costs and pressuring margins. A potential U.S. ban on Bombardier aircraft sales also threatens demand for Honeywell engines used in Challenger jets.
These are new external risks that could hurt future results.
News & notes movingHON
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Honeywell Technologies Wins $300M Dangote Kenya Refinery Project
Honeywell Technologies has been selected by Dangote Petroleum Refinery and Petrochemicals FZE to supply technologies and services for a proposed refinery in Kenya with a processing capacity of 700,000 barrels per day. Honeywell's scope for the project is expected to be worth approximately $300 million, similar to its involvement in Dangote's Lekki refinery in Nigeria, and covers technology licensing, process technologies, engineering expertise, equipment, digital solutions and proprietary catalysts. The deal leverages engineering designs previously developed for the Lekki refinery, which is expected to accelerate the new project's development schedule by nearly two years, or about 30%, compared with other new refinery projects. The planned facility will use Honeywell's refining and petrochemical technologies to produce gasoline, diesel, jet fuel and polypropylene, and will be designed to process crude oils ranging from light to heavy grades; once completed, it will be the world's largest single-train refinery. Honeywell Technologies became a separate public company on June 29 following the spin-off of the Aerospace Technologies business from Honeywell International, completing a multi-year portfolio restructuring that created three stand-alone publicly traded companies.
HON · Demand · Positive Honeywell Technologies selected by Dangote for a $300M Kenya refinery project covering technology licensing, equipment and catalysts
ICS Security Market to Reach $38.48B by 2031, Growing at 16.5% CAGR
The global industrial control system security market is projected to grow from $17.91 billion in 2026 to $38.48 billion by 2031, a 16.5% compound annual growth rate, according to a new report added to ResearchAndMarkets.com. Within that total, the solutions segment is expected to hold the largest share, while the power vertical is forecast to grow fastest and Asia Pacific to be the fastest-growing region. Growth is driven by IT-OT convergence, Industrial Internet of Things adoption, smart manufacturing, wireless industrial communications, and rising cyber threats to critical infrastructure. Cisco, Fortinet, Palo Alto Networks, Honeywell, and Nozomi Networks are among the vendors profiled, with Cisco, Fortinet, and Palo Alto Networks expanding OT-native security capabilities. The 446-page report covers offerings, solutions, services, verticals, and regions, and notes NERC CIP standards as a driver of power-sector investment.
Honeywell Declares $0.70 Quarterly Dividend Payable December 4
Honeywell International's board declared a quarterly dividend of $0.70 per share, payable on December 4, 2026, to shareholders of record on November 13. At a share price of $212.55, the stock's 30 day share price return is down 3.68% and its 90 day share price return is down 54.23%, while its 1 year total shareholder return is 5.40% and its 3 year total shareholder return is 23.95%. The most followed narrative on the stock puts fair value at $320.19, framing it as 33.6% undervalued, while a discounted cash flow model values Honeywell at $136.97, screening it as overvalued. Honeywell's annual revenue and net income have both declined, and the company's HON RemainCo business is described as a pure-play industrial automation and energy technology compounder with $19B+ in contracted backlog and a sold-out LNG order book.
HON · Capital · Neutral Honeywell declared a $0.70 quarterly dividend, a capital-return event, though the article also notes declining revenue/net income and mixed valuation views.
Honeywell Shares Rise 2.60% as Earnings Preview Points to Sharp Declines
Honeywell International Inc. shares closed up 2.60% at $211.85, even as the Dow lost 0.36% and the Nasdaq added 0.45%. Ahead of its upcoming earnings release, the Zacks Consensus Estimate projects earnings per share of $2.16, a 61.7% fall from the same quarter a year earlier, on revenue of $5.05 billion, down 51.45%. For the full year, analysts expect earnings of $8.29 per share and revenue of $20.31 billion, changes of -57.62% and -49.64% respectively from last year. Over the past month the Zacks Consensus EPS estimate has moved 0.42% higher, and Honeywell currently carries a Zacks Rank of #3 (Hold). The stock trades at a forward P/E of 24.92 versus an industry average of 13.73, with a PEG ratio of 3.46 against the Diversified Operations industry average of 1.4.
HON · Capital · Neutral Earnings preview shows consensus EPS down 61.7% and revenue down 51.45% YoY, with a Hold rank and forward P/E well above industry average, while shares rose 2.60%.
Honeywell CEO Calls GE's $11.75 Billion CPP Deal Positive for Aerospace
Honeywell Aerospace CEO Jim Currier called GE Aerospace's planned $11.75 billion acquisition of Consolidated Precision Products positive for the industry overall, while noting Honeywell does not directly compete with CPP because the parts it sources differ from GE's. CPP supplies roughly a quarter of GE's casting requirements, and GE expects the business to generate about $2 billion of revenue in 2027. Currier said Honeywell could bring additional outsourced capabilities back in-house through smaller, complementary acquisitions, after the company cut its 2026 organic sales-growth outlook to 4%-5% from 7%-9% and quadrupled spending on multi-sourcing and in-sourcing initiatives this year. Honeywell deployed skilled workers into supplier factories, which Currier said helped increase production 30% year over year during the preceding 30-45 days. In the second quarter, sales rose 5% to $4.52 billion, but adjusted EPS fell 32% to $1.87, with supply constraints and an unfavorable mix weighing on profitability.
Aerospace & Aviation › Avionics & Aircraft Systems Supply
GE · Capital · Positive GE Aerospace's planned $11.75 billion acquisition of Consolidated Precision Products secures roughly a quarter of its casting requirements and is expected to generate about $2 billion of revenue in 2027.
Consolidated Precision Products · Capital · Positive Consolidated Precision Products is being acquired by GE Aerospace for $11.75 billion and is expected to generate about $2 billion of revenue in 2027.
HON · Capital · Negative Honeywell cut its 2026 organic sales-growth outlook to 4%-5% from 7%-9% and Q2 adjusted EPS fell 32% to $1.87 on supply constraints and unfavorable mix.
HONA · Supply · Neutral Honeywell Aerospace CEO commented on the GE-CPP deal and said Honeywell may bring outsourced capabilities in-house via smaller acquisitions after quadrupling multi-sourcing/in-sourcing spending.
State Department Approves $5.75 Billion in Potential Arms Sales to Saudi Arabia
The State Department has approved two potential arms sales to Saudi Arabia totaling $5.75 billion, split between a $5 billion package of JDAM-ER guidance kits and bombs and a separate $750 million deal for AGT-1500 tank engines. The JDAM package consists of 5,004 KMU-572 and 5,000 KMU-556 JDAM guidance kits and 5,004 BLU-111 and 5,000 BLU-117 bombs, with Boeing identified as principal contractor for the JDAM-ERs and Honeywell handling the engines. The State Department said the sales would strengthen Saudi Arabia's airborne defense capabilities and improve interoperability with U.S. and Gulf partner forces. For Boeing, the deal is modest against its roughly $85 billion Defense, Space and Security backlog, of which international orders already account for 27%, and the segment reported a second-quarter operating loss largely on charges tied to the VC-25B Air Force One program. For Honeywell Aerospace, the smaller AGT-1500 contract fits its established defense propulsion business and adds to an international defense business that makes up about 30% of its total Defense and Space revenue. Neither potential sale is large enough to meaningfully affect either company's short-term results on its own.
BofA Warns Bombardier U.S. Sales Ban Would Hit Largest Market
A potential ban on Bombardier aircraft sales in the United States could hit the Canadian jet maker's largest market and disrupt an aerospace supply chain spanning thousands of U.S. companies, BofA analysts said. The issue follows President Donald Trump's statement that Bombardier should no longer sell aircraft in the U.S., where its jets are certified by the Federal Aviation Administration and most aerospace goods produced in Canada and Mexico are exempt from U.S. tariffs. The U.S. accounts for about 45% of the global business-jet market and is Bombardier's largest individual market, with the company delivering roughly 80 to 100 aircraft there annually out of total deliveries of around 155, while its 2026 guidance calls for more than 157 aircraft. A halt to U.S. sales could also affect American suppliers, as Bombardier's supply chain includes roughly 2,800 U.S. companies across 47 states and generates about $2.5 billion in annual U.S. purchases. GE Aerospace supplies engines for Bombardier's Global 7500 and 8000 aircraft, Honeywell powers the Challenger 300, 350 and 3500 family, and RTX's Collins Aerospace supplies avionics across the Global and Challenger ranges. Trade tensions could also affect U.S. defense contractors if Canada shifts future procurement toward European or Asian suppliers, with programs potentially exposed including Canada's planned purchase of 88 Lockheed Martin F-35A fighters, which carries an acquisition budget of about C$27.7 billion, of which only 16 are firmly ordered and Ottawa has considered Saab's Gripen as a possible partial alternative. Canada also has commitments involving Boeing's P-8A Poseidon and General Atomics' MQ-9B SkyGuardian drones, and while a complete cancellation of Canada's outstanding U.S. defense contracts is considered unrealistic, future purchases could gradually shift toward other suppliers if trade relations deteriorate.
Defense & Geopolitical Fragmentation › Defense Primes — United States Geopolitics
Bombardier Inc. · Regulation · Negative A potential U.S. ban on Bombardier aircraft sales would hit its largest market, where it delivers roughly 80-100 aircraft annually.
GE · Supply · Negative Bombardier's supply chain includes ~2,800 U.S. companies and GE Aerospace supplies engines for the Global 7500/8000, so a U.S. sales ban would hit its engine orders.
HON · Supply · Negative Honeywell powers Bombardier's Challenger 300/350/3500 family, so a halt to Bombardier U.S. sales would reduce demand for its engines.
RTX · Supply · Negative RTX's Collins Aerospace supplies avionics across Bombardier's Global and Challenger ranges, so a U.S. sales ban would hit that supply relationship.
LMT · Geopolitics · Negative Canada could shift procurement away from U.S. defense contractors, potentially exposing its planned purchase of 88 Lockheed Martin F-35A fighters.
Canada's Retaliatory Tariffs on U.S. Goods Take Effect
Canada's retaliatory tariffs on U.S. goods took effect at 12:01 a.m. on September 8, imposing duties of 15%, 25%, and 50% on about C$27.6 billion ($20 billion) of U.S. imports, including steel, aluminum, dairy, appliances, agricultural equipment, pulp and paper, plastics, and electronics. The measures escalate an 18-month trade dispute following the collapse of negotiations between Ottawa and Washington, and come after the U.S. imposed new 50% duties on Canadian exports in August. U.S. companies to watch include Nucor, Steel Dynamics, Cleveland-Cliffs, Alcoa, Deere, Caterpillar, Whirlpool, Kraft Heinz, General Mills, Eaton, Emerson Electric, Honeywell, International Paper, Dow, LyondellBasell, General Motors, and Ford, among others. Bombardier faces added uncertainty after President Donald Trump threatened to block its aircraft from the U.S. market unless it manufactures in the U.S. The dispute could weigh on Canadian growth, exports, and business investment, with Canadian exports to the U.S. already falling 6.6% in July.
U.S. Approves $5.75B in Weapons Sales to Saudi Arabia
The U.S. State Department on Friday approved the potential sale of Joint Direct Attack Munitions-Extend Range to Saudi Arabia for an estimated $5 billion, and a separate potential sale of AGT-1500 engines for an estimated $750 million, totaling $5.75 billion. Saudi Arabia has requested 5,000 KMU-572 and 5,000 KMU-556 JDAM guidance kits, 5,000 BLU-111 500-pound and 5,000 BLU-117 2,000-pound general purpose bombs, and 60 AGT-1500 tank engines, along with related equipment. The State Department said the proposed sale will improve Saudi Arabia's airborne defense capability, strengthen homeland defense, and enhance interoperability with U.S. and Gulf partner forces. Boeing and Honeywell will serve as principal contractors for the JDAM-ERs and AGT-1500 engines, respectively.
MASTEC set to sign MOUs with additional global partners after securing 500 million baht backlog
MASTEC Link Public Company Limited said in its second quarter 2026 earnings call that it has a backlog of about 500 million baht and expects results in the third and fourth quarters to accelerate from the first half, while continuing to deliver projects on schedule. The company is in talks to sign memorandums of understanding with new global partners, namely GST, a maker of safety equipment and fire alarm systems, and KIDDE, a maker of fire detection and alarm systems, after earlier closing a deal with Honeywell, a global leader in smart building management technology, to increase opportunities in data centers, smart buildings, and clean energy work. MASTEC aims to maintain gross margin at 28 to 30 percent to drive revenue and profit toward its full-year 2026 targets, alongside its Jump+ plan to strengthen the core business and create new growth through innovative energy conservation and environmental products, which are in the process of applying for petty patents and have research results from real-world use with leading universities.
MTZ · Demand · Positive MASTEC reports 500 million baht backlog and expects accelerated results, with new partnerships driving growth.
HON · Demand · Positive MASTEC's partnership with Honeywell expands opportunities in data centers, smart buildings, and clean energy, potentially increasing demand for Honeywell's products.
Gulf Security Technology Co., Ltd. (GST) · Demand · Positive MASTEC is in talks to sign MOUs with GST, potentially increasing demand for its safety equipment and fire alarm systems.
Kidde Global Solutions · Demand · Positive MASTEC is in talks to sign MOUs with KIDDE, potentially increasing demand for its fire detection systems.
Moderna shares jumped as much as 50% in premarket trading after the drugmaker and Merck said their experimental melanoma drug combination outperformed Keytruda alone in a Phase 3 trial. The INTerpath-001 study tested intismeran autogene, an investigational individualized mRNA-based neoantigen therapy, in combination with Merck's Keytruda in patients with completely resected stage IIB-IV melanoma, meeting its primary endpoint of recurrence-free survival and a key secondary endpoint measuring distant metastasis-free survival. Target stock fell 4.0% despite the retailer raising its annual sales forecast, with investors focusing on the impact of tariffs and the company's underlying profit outlook; comparable sales for the quarter ended Aug. 1 rose 3.8%, beating expectations for 2.5% growth, and tariff refunds provided a nearly $1 billion boost during the quarter. Honeywell Aerospace shares rose 2.8% after Morgan Stanley upgraded the newly independent aerospace company to Overweight from Equalweight and set a $205 price target, while Lowe's shares fell 2.6% after the home improvement retailer reported second-quarter results that beat expectations on earnings but missed badly on revenue. Estée Lauder rose 6.3% in premarket trading ahead of its fiscal fourth-quarter and full-year results, and Rising Dragon Acquisition Corp. surged 223.3% to $18.91 in premarket trading with no clear catalyst identified.
MASTEC first-half profit surges 525.99% on data center tailwinds
MASTEC Link Public Company Limited reported first-half 2026 net profit of 33.44 million baht, up 525.99% from 5.34 million baht in the same period last year. Sales and service revenue came in at 529.76 million baht, up 33.93% from 395.53 million baht a year earlier. The main driver was standout growth in air-conditioning and sanitary system products from deliveries for data center projects and the Purple Line electric train project, while revenue from energy-conservation and environmental innovation products jumped 82.28% in the first half. For the second quarter of 2026, the company posted revenue of 268.07 million baht, up 48.17%, and net profit of 15.46 million baht, representing a net profit margin of 5.77%. Gross margin rose from 27.59% to 28.96%, close to the full-year target of 28% to 30%. The company is confident second-half performance will grow faster than the first half because it is the high season and it will gradually recognize revenue from a backlog of about 500 million baht. It is also expanding its customer base, most recently partnering with Honeywell, a US leader in smart building management technology, to develop Integrated Building and Infrastructure Solutions, which will strengthen competitiveness and support data center investment in Thailand.
HON · Demand · Positive Partnership with MASTEC to develop building solutions supports data center investment, potentially increasing demand for Honeywell's smart building technology.
Paycom jumps premarket after earnings beat; data storage stocks fall
U.S. stock index futures were little changed on Thursday as investors weighed a potential Strait of Hormuz reopening and renewed AI spending concerns. Paycom Software surged 13.1% after reporting adjusted earnings of $2.78 per share, well above the $2.38 estimate, on revenue of $531.2 million. Data storage companies declined sharply, with Western Digital slumping 14.6% and Sandisk falling 9.2%, as their results failed to meet elevated AI-driven expectations. LegalZoom plunged 23% after cutting its full-year revenue forecast, citing a slowdown in Google Search traffic. Honeywell Aerospace fell 13.1% after slashing its full-year outlook in its first report as an independent company.
Honeywell Aerospace reports second quarter results and updates 2026 outlook
Honeywell Aerospace reported second quarter sales of $4.5 billion, up 5% year over year on both a reported and organic basis, and revised its full-year 2026 guidance downward. Net income fell 70% to $256 million, while adjusted EBIT declined 7% to $995 million, including roughly $100 million in separation-related costs and inventory obsolescence charges. The company, which completed its spin-off from Honeywell Technologies on June 29, now expects full-year organic sales growth of 4% to 5%, down from a prior range of 7% to 9%, and pro forma standalone adjusted EBIT of $4.35 billion to $4.45 billion, compared with the earlier $4.65 billion to $4.75 billion. It initiated full-year pro forma standalone adjusted earnings per share guidance of $7.60 to $7.90 and maintained its second-half free cash flow guidance of $1.0 billion to $1.5 billion. Backlog grew 9% to $18.2 billion, and the company highlighted $15 billion in new wins year to date, including a landmark avionics and power systems agreement with IndiGo for 810 Airbus A320neo family aircraft.
Aerospace & Aviation › Avionics & Aircraft Systems ▼Demand
HONA · Capital · Negative Honeywell Aerospace reported lower sales growth, a 70% drop in net income, and reduced full-year guidance, reflecting operational and cost challenges.
InterGlobe Aviation (IndiGo) · Demand · Positive IndiGo's landmark order for 810 Airbus A320neo aircraft with Honeywell systems indicates strong fleet expansion and demand for its services.
AIR.PA · Demand · Positive Airbus benefits from the IndiGo order for 810 A320neo aircraft, which includes Honeywell avionics and power systems, boosting demand for its aircraft.
HON · Capital · Negative Honeywell International is the parent that spun off Honeywell Aerospace; the aerospace unit's weak results and guidance cut negatively affect the parent's overall performance.
Honeywell Technologies completes sale of Productivity Solutions and Services business to Brady Corporation
Honeywell Technologies has completed the sale of its Productivity Solutions and Services business to Brady Corporation in an all-cash transaction. Chairman and CEO Vimal Kapur said the divestiture marks the final step in the company's transition to a pure-play automation company, now fully focused on the building, industrial and process sectors. The deal follows last month's sale of the Warehouse and Workflow Solutions business and the 2025 divestiture of the Personal Protective Equipment business. Since 2023, Honeywell Technologies has completed approximately $11.5 billion of accretive, synergistic acquisitions, including Compressor Controls Corporation, SCADAfence, the Access Solutions business from Carrier Global, the LNG business from Air Products, Sundyne, Li-ion Tamer and the Catalyst Technologies business from Johnson Matthey.
HON · Capital · Positive Honeywell completes divestiture, finalizing transition to pure-play automation company, with proceeds from sale.
BRC · Capital · Positive Brady Corporation acquires Honeywell's Productivity Solutions and Services business in an all-cash transaction, expanding its portfolio.
Honeywell Technologies Beats Estimates in First Standalone Quarter, Raises Guidance
Honeywell Technologies reported its first quarterly results as a standalone automation company, with revenue of $5.19 billion and adjusted earnings of $1.95 per share, both exceeding analyst expectations. The stock rose more than 5% on the news. Total revenue including a residual aerospace contribution was $9.72 billion, while adjusted earnings per share on that basis fell 4% to $4.52. Management raised full-year organic growth guidance to 3–4%, segment margin guidance to 20.1–20.5%, and adjusted earnings growth guidance to 25–29%, though dollar sales guidance was trimmed to $19.8–20.0 billion due to faster-than-planned divestitures. Orders for the standalone business grew 16% and backlog reached about $20 billion, with Building Automation organic sales up 9% and Process Automation orders surging 24%.
Aerospace Manufacturing Profits Outpace Airlines as Fortune Global 500 Aviation Landscape Shifts
The 2026 Fortune Global 500 list shows that aerospace manufacturers generally posted higher profits than airlines. GE Aerospace topped all aviation companies on the list with a net profit of 8.704 billion US dollars, earning over 3 billion dollars more than the world’s most profitable airline, Emirates Group. Airbus recorded a net profit of 5.889 billion dollars, up 28.7 percent year on year. Boeing returned to profitability with a net profit of 2.235 billion dollars, and its revenue surpassed that of Airbus. Honeywell posted a net profit of 4.729 billion dollars. Supply chain strains have led to a shortage of aircraft and components, driving up manufacturers’ profits, while airlines have been weighed down by delivery delays and rising costs. Emirates Group reported a net profit of 5.354 billion dollars. Delta Air Lines had the highest revenue among global carriers and ranked second in net profit. China’s three state-owned major airlines remained absent from the Global 500. Two of them were still loss-making in 2025, and their combined losses in the first half of 2026 are expected to approach 10 billion yuan. Xiamen C&D Group ranked 112th with revenue of 97.028 billion dollars, but it swung from profit to loss in 2025, posting a loss of 509 million dollars.
AIR.PA · Supply · Positive Airbus net profit up 28.7% to $5.889 billion, benefiting from supply chain strains driving up manufacturer profits.
BA · Supply · Positive Supply chain strains leading to aircraft shortage drive up manufacturer profits; Boeing returned to profitability with net profit of $2.235 billion.
GE · Supply · Positive GE Aerospace tops aviation companies with net profit of $8.704 billion, benefiting from supply-driven pricing power.
DAL · Supply · Negative Airlines weighed down by delivery delays and rising costs; Delta has high revenue but profits lag manufacturers.
HON · Supply · Positive Honeywell posted net profit of $4.729 billion, benefiting from supply chain strains driving up manufacturer profits.
600029.CG · Demand · Negative China Southern remains absent from Global 500, still loss-making in 2025 with combined losses expected near 10 billion yuan.
Sixteen of 19 industrial companies beat EPS estimates this week
Sixteen out of 19 industrial companies that reported quarterly results this week exceeded earnings per share expectations. Lockheed Martin posted EPS of $7.94, beating by $0.74, and raised its 2026 sales guidance to $79.75 billion to $81.75 billion. RTX reported non-GAAP EPS of $1.89, topping estimates by $0.23, and lifted its full-year adjusted sales forecast to $95 billion to $96 billion. 3M delivered adjusted earnings of $2.40 a share, ahead of the $2.25 consensus, and raised its 2026 adjusted EPS outlook to $8.80 to $8.95. Honeywell Technologies earned an adjusted $1.95 per share, exceeding the $1.82 estimate, and narrowed its 2026 sales guidance to $19.8 billion to $20 billion while raising its adjusted earnings forecast to $8.05 to $8.35 a share.
Honeywell Raises 2026 Outlook on Automation Growth Push
Honeywell International raised its 2026 outlook during its second-quarter earnings call, citing stronger-than-expected execution and a strategic shift toward becoming a pure-play automation company. The company reported adjusted earnings per share of $1.95 on revenue of $5.19 billion, both exceeding consensus estimates, while organic sales grew 4% and organic orders jumped 16%, driving a 9% increase in ending backlog. Management now expects full-year organic sales growth of 3% to 4%, segment margin expansion of 250 to 290 basis points, and adjusted EPS of $8.05 to $8.35, with second-half organic growth projected at 4% to 6%. The company also completed the acquisition of Johnson Matthey's Catalyst Technologies business to strengthen its Process Automation and Technology portfolio, and highlighted demand momentum across Building Automation, data centers, and LNG projects.
US Market Indexes Sink as Oil Tops $100 and AI Costs Surge
Major US stock indexes fell sharply on Thursday as oil prices briefly touched $100 per barrel and investors reacted to massive AI infrastructure spending from Alphabet and Tesla. The Nasdaq Composite dropped 2.6%, the S&P 500 lost 1.4%, and the Dow Jones Industrial Average declined 1%. Tesla shares plunged 14.2% after reporting earnings of $0.33 per share, well below the $0.49 consensus, and guiding for over $25 billion in full-year capital expenditure. Alphabet fell 7% despite beating revenue estimates with $119.8 billion, as it raised full-year capex guidance by $15 billion and posted negative free cash flow of $5.9 billion. Brent crude briefly hit $100 a barrel following reports of attacks on oil tankers near the Red Sea, adding to inflation concerns. Honeywell Technologies bucked the trend, rising 6.8% after beating earnings estimates with $1.95 per share.
Energy Transition & Power Demand › Energy Storage & Grid Flexibility ▲Demand
Artificial Intelligence › AI Data Center & Build-out ▼Capital
Energy Transition & Power Demand › Grid, Transmission & Power Equipment ▲Demand
Energy Transition & Power Demand › Firm Power & Transition Fuels ▲Demand
Artificial Intelligence › AI Compute Cloud & Neoclouds Capital
BRENT · Geopolitics · Positive Brent crude briefly hit $100 a barrel following reports of attacks on oil tankers near the Red Sea.
GOOG · Capital · Negative Alphabet raised full-year capex guidance by $15 billion and posted negative free cash flow, causing a 7% drop.
HON · Capital · Positive Honeywell beat earnings estimates with $1.95 per share, rising 6.8%.
TSLA · Capital · Negative Tesla reported earnings of $0.33 per share, well below consensus, and guided for over $25 billion in capex, causing a 14.2% plunge.
Gas Separation Membranes Market to Reach $2.5 Billion by 2031
The global gas separation membranes market is projected to grow from $1.5 billion in 2025 to $2.5 billion by 2031, a compound annual growth rate of 9.1%, according to a new report from BCC Research. The expansion is driven by surging demand for green hydrogen production and carbon capture technologies, with the carbon capture application segment growing at a 40% CAGR. Asia-Pacific holds a 43.5% market share, led by industrial growth in China and India and aggressive clean energy mandates. Key players include Air Products and Chemicals Inc., Air Liquide, Honeywell International Inc., SLB, and Membrane Technology and Research Inc.
Carbon Removal (DAC) › Direct Air Capture (DAC) ▲Supply
Energy Transition & Power Demand › Hydrogen & Fuel Cells ▲Demand
Membrane Technology and Research · Demand · Positive Membrane Technology and Research is a key player directly benefiting from the projected market growth.
APD · Demand · Positive Growing demand for gas separation membranes in green hydrogen and carbon capture drives revenue for Air Products.
AI.PA · Demand · Positive Air Liquide's gas separation membrane portfolio gains from rising demand in green hydrogen and carbon capture.
HON · Demand · Positive Honeywell's gas separation membrane business benefits from market growth in carbon capture and hydrogen.
0SCL.LSE · Demand · Positive SLB's involvement in gas separation membranes aligns with market expansion in energy transition applications.
Honeywell Reaffirms 2026 Guidance, Stock Seen as Undervalued
Honeywell International reaffirmed its 2026 sales outlook and detailed earnings guidance that separates the impact of its Aerospace Technologies spin off. For the full year, the company expects sales between $19.9 billion and $20.2 billion, with diluted earnings per share from continuing operations of $17.73 to $18.33, including a spin off impact of $12.34 to $12.54 per share. Excluding that impact, earnings guidance is $5.39 to $5.79 per share. The most followed narrative on the stock suggests it is undervalued, with a last close of $229.86 well below an implied fair value of $320.19, based on the automation-focused RemainCo after the aerospace separation.
Honeywell CEO Says Breakup Plans Predated Elliott's Late-2024 Stake
Honeywell CEO Vimal Kapur said the company's breakup plans were already underway before Elliott Investment Management acquired a stake in late 2024 and called for a separation. Kapur stated that substantial internal work had been completed along the same lines prior to the public announcement, suggesting Elliott's demands aligned with a strategy management was already considering. Honeywell previously operated across aerospace, industrial automation, energy, buildings, and advanced materials, but spun out its advanced materials division last October and later separated its aerospace business, leaving Honeywell Technologies as a pure-play automation company. Kapur noted that the company's shares had underperformed industry peers in the years before the breakup, which may have increased pressure to reconsider its diversified structure.
HON · Capital · Neutral CEO confirms breakup plans predated activist stake, but stock underperformance and restructuring outcome remain uncertain.
Elliott Investment Management L.P. · Capital · Neutral Elliott's stake and call for separation aligned with existing plans, but no clear win or loss from the news.
Honeywell Aerospace Debuts as Standalone Public Company with $18.4 Billion Backlog
Honeywell Aerospace Inc. began trading as an independent public company, offering investors direct exposure to a scaled aerospace supplier with an approximately $18.4 billion backlog. The company’s portfolio spans avionics, propulsion, flight control, and connected aerospace software across commercial aviation, business aviation, defense, and space. The spin-off from Honeywell International allows management to focus capital allocation and product development solely on aerospace and defense, supported by a large installed base that generates recurring aftermarket revenue. However, the stock faces risks from aircraft-cycle volatility, supply-chain constraints, and geopolitical pressures, and currently carries a Zacks Rank #3 (Hold) while trading at 23.1 times forward earnings.
HON · Capital · Negative Honeywell International spun off its aerospace division, losing a major business segment and its associated revenue and backlog.
HONA · Capital · Positive Honeywell Aerospace begins trading as a standalone public company with an $18.4 billion backlog and focused management.
Seeking Alpha flags 39 large-cap US stocks with Sell or Strong Sell ratings ahead of Q2 earnings
As second-quarter earnings season begins, Seeking Alpha's Quant Rating system identifies 39 large-cap US stocks carrying Sell or Strong Sell ratings, reflecting weaker scores across valuation, growth, profitability, momentum, and earnings estimate revisions. Seven of these companies hold the lowest Strong Sell designation with Quant Ratings below 1.50: Crown Castle, SBA Communications, Honeywell, Strategy, Zoetis, Erie Indemnity, and Tractor Supply. The remaining 32 stocks are rated Sell, including widely followed names such as Coinbase Global, Blackstone, S&P Global, Domino's Pizza, Lennar, Clorox, and Fidelity National Information Services. While some of these companies have delivered positive share-price returns this year, their Quant Ratings suggest investors should watch for potential downside risks as quarterly results and guidance are released.
CCI · Capital · Negative Quant Rating system assigns Strong Sell rating (below 1.50) indicating weak scores across valuation, growth, profitability, momentum, and earnings revisions.
CLX · Capital · Negative Quant Rating system assigns Sell rating, suggesting downside risk ahead of Q2 earnings.
COIN · Capital · Negative Quant Rating system assigns Sell rating, indicating potential downside risk as earnings approach.
DPZ · Capital · Negative Quant Rating system assigns Sell rating, suggesting weaker scores and downside risk.
ERIE · Capital · Negative Quant Rating system assigns Strong Sell rating (below 1.50) indicating weak scores across multiple factors.
HON · Capital · Negative Honeywell is one of seven stocks with the lowest Strong Sell rating (Quant Rating below 1.50), signaling poor scores across valuation, growth, and momentum.
Honeywell Technologies Completes Acquisition of Johnson Matthey’s Catalyst Technologies Business
Honeywell Technologies has completed its acquisition of Johnson Matthey’s Catalyst Technologies business for £1.325 billion in an all-cash transaction. The deal strengthens Honeywell Technologies’ portfolio across refining, petrochemicals and renewable fuels, and enhances its end-to-end solutions by combining catalysts, process technologies and digital capabilities powered by Honeywell Technologies Forge. The acquisition is expected to drive growth and expand the company’s global installed base. This follows Honeywell Technologies’ separation of its Aerospace Technologies business and the spin-off of its Advanced Materials business, and is part of approximately $11.5 billion of acquisitions completed since 2023.
HON · Capital · Positive Honeywell completes acquisition of Johnson Matthey's Catalyst Technologies business, strengthening its portfolio and expected to drive growth.
JMAT.LSE · Capital · Negative Johnson Matthey sells its Catalyst Technologies business to Honeywell for £1.325 billion.
Honeywell Completes 7-Megawatt Solar Project in New York
Honeywell International completed a 7.01-megawatt DC ground-mount community solar project on an industrial brownfield it owns in upstate New York. The project, known as SB-14, reached commercial operation and was built under a $41 million engineering, procurement, and construction agreement by PowerBank Corporation. The site is regulated by the New York State Department of Environmental Conservation. Separately, JPMorgan cut its price target on Honeywell to $250 from $260 while maintaining an Overweight rating, citing the aerospace spin and updated guidance.
HON · Capital · Positive JPMorgan cut price target but maintained Overweight rating, and the solar project completion is a positive operational milestone.
SUUN · Demand · Positive PowerBank Corporation secured a $41 million EPC contract for the solar project, indicating demand for its services.
Johnson Matthey Says Turnaround on Track as Cash Flow Jumps, Portfolio Shifts Advance
Johnson Matthey told shareholders at its 2026 Annual General Meeting that its turnaround remains on track, with full-year results in line with upgraded guidance and free cash flow rising more than 160% year over year. Underlying operating profit rose 6% on a reported basis and was up 14%, while the Clean Air business improved margins to the mid-teens. The company said it remains on course to meet its 2027/2028 commitments and is making major portfolio changes, including the sale of Catalyst Technologies to Honeywell, which is nearing completion after receiving final China antitrust approval. Johnson Matthey is also advancing its new platinum group metals refinery in Royston, expected to be operational in 2027, and announced a growth-focused acquisition of Cormetech to expand its stationary emissions-control business. The board plans to return GBP 200 million per year to shareholders through dividends and buybacks, broadly split about half and half.
Morgan Stanley stays bullish on aerospace and defense ahead of Q2 earnings
Morgan Stanley maintained a constructive outlook on the aerospace and defense sector ahead of second-quarter earnings, citing resilient commercial aerospace demand, improving aircraft production, and favorable long-term defense spending trends, while becoming more selective after recent stock volatility and valuation shifts. The brokerage reiterated positive views on commercial aerospace, defense, and space, highlighting durable aftermarket demand driven by sustained fleet utilization, low aircraft retirement rates, constrained maintenance capacity, and continued engine maintenance needs. It also said Boeing's production recovery is gaining momentum, with the 737 MAX running at 47 aircraft per month and further certification milestones expected to support the commercial aerospace outlook. In defense, Morgan Stanley said investors continue to underestimate the likelihood of a roughly $1.1 trillion U.S. fiscal 2027 base defense budget, arguing that supply-chain improvements and expanding missile production capacity should provide further upside for the sector. The firm also expects space companies to benefit from upcoming launch milestones, improving order trends, and NASA's commercial International Space Station procurement. Reflecting changing valuations rather than weakening fundamentals, Morgan Stanley downgraded Loar Holdings and TransDigm to Equal-weight, while cutting CAE and Voyager Technologies to Underweight. At the same time, it named FTAI Aviation as its top commercial aerospace pick, Northrop Grumman as its preferred defense stock, and HawkEye 360 as its top space investment. The brokerage also revised several price targets, lowering targets for companies including Honeywell Aerospace, VSE, Textron, StandardAero, Loar, and TransDigm, while raising targets for Heico, Curtiss-Wright, and Moog. It said the expanding universe of publicly traded aerospace and defense companies has increased investment opportunities but also requires greater selectivity.
FTAI · Demand · Positive Named top commercial aerospace pick by Morgan Stanley, citing resilient aftermarket demand.
NOC · Demand · Positive Morgan Stanley names Northrop Grumman as its preferred defense stock, citing favorable long-term defense spending trends and supply-chain improvements.
CAE · Capital · Negative Morgan Stanley downgraded CAE to Underweight, reflecting valuation concerns.
HAWK · Demand · Positive Named as top space investment; expected to benefit from launch milestones and improving order trends.
LOAR · Capital · Negative Downgraded to Equal-weight and price target lowered by Morgan Stanley.
TDG · Capital · Negative Morgan Stanley downgraded TransDigm to Equal-weight and lowered its price target, citing valuation shifts.
Honeywell Technologies Process Automation Organic Revenue Fell 6% in First Quarter
Honeywell Technologies reported a 6% year-over-year decline in organic revenue for its Process Automation and Technology segment in the first quarter of 2026. The drop was driven by a 10% fall in aftermarket organic sales due to lower refining catalyst shipments and project delays, along with reduced customer demand in the Middle East amid ongoing geopolitical tensions. The company expects the Middle East conflict to negatively impact segment sales by 1% in the second quarter. Despite the near-term headwinds, orders in the segment's petrochemical and refining verticals grew 11% year over year in the first quarter. Honeywell Technologies became a standalone public company on June 29 following the spin-off of the Aerospace Technologies business from Honeywell International, completing a multi-year restructuring into three independent publicly traded companies.
HON · Demand · Negative Honeywell International's former Process Automation segment (now Honeywell Technologies) reported 6% organic revenue decline due to lower aftermarket sales and reduced customer demand in the Middle East.
Honeywell International Offers 75% Upside Potential With Automation Portfolio Outlook
Honeywell International Inc. is among the oversold NASDAQ stocks to invest in right now, with a median one-year target price of $387.28 implying around 75% upside potential. The stock carried a moderately bullish consensus sentiment as of July 9, receiving Buy ratings from 13 of 18 analysts covering it. On July 1, Citi analyst Andrew Kaplowitz lowered the target price to $260 from $269.40 while maintaining a Buy rating, noting that Honeywell's dedicated automation portfolio appears favorably positioned for steadier and more foreseeable revenue growth. Separately, PowerBank Corp. disclosed that its northern New York-based ground-mount community solar project SB-14, undertaken for Honeywell, has reached commercial operation with a capacity of 7.01 MW DC/5 MW AC. This project is part of three shared solar projects totaling 21 MW DC and a $41 million procurement, engineering, and construction solutions agreement between the two companies, and it is the second project in the portfolio to achieve commercial operation, bringing the aggregate to 14.02 MW of clean energy.
Health and Safety Management Market Forecast to Reach $2.87 Billion by 2030
The global health and safety management market is projected to grow from an estimated $2.07 billion in 2026 to $2.87 billion by 2030, at a compound annual growth rate of 8.5%, according to a new report from ResearchAndMarkets.com. The report covers 16 national markets and profiles companies including Honeywell International Inc., 3M Company, Securitas AB, AECOM, and DuPont de Nemours Inc. Growth is being driven by the adoption of AI-powered risk prediction, IoT-enabled workplace safety monitoring, cloud-based compliance platforms, and wearable safety devices. The analysis segments the market by component, deployment mode, organization size, application, and end user, with expanded geographic coverage now including Taiwan and Southeast Asia.
Artificial Intelligence › AI Applications & Copilots ▲Demand
0IAH.LSE · Demand · Positive The health and safety management market growth, driven by AI and IoT adoption, implies increased demand for Securitas' safety services.
HON · Demand · Positive The health and safety management market growth, driven by AI and IoT adoption, implies increased demand for Honeywell's safety products and services.
MMM · Demand · Positive The health and safety management market growth, driven by AI and IoT adoption, implies increased demand for 3M's safety products and services.
Spacecraft Attitude Sensor Market to Reach $245.8 Million by 2032
The global spacecraft attitude sensor market is projected to grow from $122.85 million in 2025 to $245.80 million by 2032, at a compound annual growth rate of 10.41%. The market encompasses technologies such as cold atom, fiber optic, hemispherical resonator, MEMS, ring laser, and vibrating structure gyroscopes, with sensor types including earth sensors, gyroscopes, magnetometers, star trackers, and sun sensors. Platforms range from CubeSats and launch vehicles to military spacecraft and satellites, serving applications in communication, earth observation, military, navigation, and scientific research. Regional dynamics show the Americas emphasizing defense and commercial communications, EMEA focusing on high-reliability missions, and Asia-Pacific pursuing cost-effective solutions. Key suppliers include Honeywell International, Ball Aerospace & Technologies, Northrop Grumman, Raytheon Technologies, and Thales Group, among others.
Space Economy › Satellite & Spacecraft Manufacturing ▲Demand
HO.PA · Demand · Positive Thales is a key supplier in the growing spacecraft attitude sensor market, projected to grow at 10.41% CAGR.
HON · Demand · Positive Honeywell is a key supplier in the growing spacecraft attitude sensor market, projected to grow at 10.41% CAGR.
NOC · Demand · Positive Northrop Grumman is a key supplier in the growing spacecraft attitude sensor market, projected to grow at 10.41% CAGR.
RTX · Demand · Positive RTX (Raytheon Technologies) is a key supplier in the growing spacecraft attitude sensor market, projected to grow at 10.41% CAGR.
Honeywell International reaffirmed its second-half and full-year 2026 guidance, keeping expected sales at US$19.90 billion to US$20.20 billion and detailing the earnings impact of its aerospace spin-off alongside a completed 2-for-1 reverse stock split. The company pointed to US$5.39 to US$5.79 in earnings per share from ongoing operations, isolating the spin-off's effect to give investors a clearer view of its automation, building controls, and energy-focused businesses. The update helps investors assess underlying earnings after a period of weaker margins and a sharp share price pullback, though separation costs and execution risks remain. Honeywell's narrative projects US$44.5 billion in revenue and US$7.2 billion in earnings by 2029, requiring 5.7% yearly revenue growth and a roughly US$3.2 billion earnings increase from US$4.0 billion today.
HON · Capital · Positive Reaffirmed 2026 guidance and detailed spin-off impact, providing clearer earnings view and supporting long-term revenue and earnings targets.
Honeywell completes breakup into four standalone companies
Honeywell International has completed its portfolio transformation, splitting into four separate entities: the legacy industrial automation business trading as HON, Honeywell Aerospace as HONA, Solstice Advanced Materials as SOLS, and quantum computing venture Quantinuum as QNT. The aerospace unit is now one of the largest pure-play aerospace suppliers, while Solstice focuses on specialty materials like refrigerants and uranium fluorination. Quantinuum, still majority-owned by Honeywell, remains a pre-revenue quantum computing play. The breakup aims to eliminate the conglomerate discount and allow each management team to pursue tailored capital allocation strategies.
Nasdaq Composite Jumps 0.9% as Semiconductors Stage a Comeback
The Nasdaq Composite rose 0.9% by midday Thursday as semiconductor stocks rallied on Micron Technology's $3 billion U.S. investment announcement. The S&P 500 gained 0.6% and the Dow added 0.3%, held back by a 9.2% drop in Honeywell International following its aerospace spinoff. Micron surged 7.5% after unveiling the investment, part of a broader plan to pour more than $250 billion into domestic chipmaking over the next decade, lifting Advanced Micro Devices by 7.2%, Broadcom by 3.3%, and the iShares Semiconductor ETF by 5.2%. Oil prices reversed sharply after President Trump suggested Iran called to make a deal, with the United States Oil Fund falling 2.7%, though military strikes continued on both sides. Alphabet fell 2.5%, becoming the biggest drag on the Nasdaq and S&P 500 as the hardware rally came at the expense of software and hyperscaler stocks.
Cerebras, PepsiCo, Starbucks, Honeywell move in premarket trading
Stock index futures edged higher on Thursday as investors looked past rising Middle East tensions. Cerebras Systems rose 6.35% in premarket trading after announcing a multi-billion-dollar investment to expand its AI infrastructure across Europe, with plans to launch its first regional data center capacity by the end of 2026 and reach 200 megawatts across France and the Nordic region by the end of 2027, partly supporting OpenAI. PepsiCo fell 2.46% despite reporting second-quarter revenue that beat Wall Street estimates by about $230 million, as investors focused on a slight earnings miss and the company's warning that geopolitical uncertainty and inflationary pressures could continue to weigh on consumer demand. Starbucks slipped 0.72% after Bloomberg reported the coffee chain is expanding its use of artificial intelligence while reducing its reliance on software from Microsoft and IBM, developing in-house inventory and maintenance management systems with some applications expected to roll out by the end of next year. Honeywell Technologies gained 0.72% after updating its second-half and full-year 2026 earnings guidance to reflect the completion of a one-for-two reverse stock split, reaffirming its underlying outlook with revised per-share guidance adjusted for the new share count.
Wall Street Remains Bullish on Honeywell Post Spinoff
Wall Street analysts remain bullish on Honeywell International following its recent spinoff. BMO Capital analyst Daniel DiCicco reiterated a Buy rating with a $253 price target, while Citi's Andrew Kaplowitz lowered his target from $269.40 to $260 but kept a Buy rating. Both targets imply double-digit upside from current levels, with the median analyst target at $254 based on 27 analysts. Citi believes the more focused automation business is now better positioned for steadier long-term sales growth.
Honeywell Completes Aerospace Spin-Off, Becomes Pure-Play Automation Company
Honeywell has completed the spin-off of its Aerospace Technologies business, emerging as a separate public company on June 29 and repositioning itself as a premier pure-play automation company. The move marks the final step in a multi-year restructuring that separates Honeywell into three stand-alone publicly traded companies, aiming to sharpen its focus on industrial automation. Following the spin-off, Honeywell shares have edged down 1.2%, while the company projects 2026 revenues between $19.9 billion and $20.2 billion with organic growth of 2% to 3%. Analysts at Zacks Investment Research rate the stock a Hold, citing near-term headwinds including a 6% organic revenue decline in the Process Automation and Technology segment and rising costs, despite strong momentum in Building Automation and a forward P/E of 10.23 times, a discount to the industry average of 11.73 times.
Honeywell Completes Aerospace Spinoff, Creating Four Publicly Traded Entities
Honeywell has completed the spinoff of its aerospace business, resulting in four separate publicly traded companies: Honeywell Technologies, Honeywell Aerospace, Solstice Advanced Materials, and Quantinuum. Honeywell Technologies, now an industrial automation pure play, reported 3.5% revenue growth and 7% earnings per share growth in 2025, with management guiding for potential double-digit earnings growth. Honeywell Aerospace trades at around 27 times forward earnings, while Solstice Advanced Materials, which offers exposure to AI-related industries and nuclear energy, has surged nearly 66% since its spinoff nine months ago and trades at 30 times forward earnings against forecasted earnings growth exceeding 20%. Quantinuum, a quantum computing company taken public by Honeywell, has a market cap of $19.5 billion, with Honeywell Technologies retaining a 48.1% stake worth approximately $9.4 billion.
HON · Capital · Positive Honeywell completed spinoff, creating value and retaining 48.1% stake in Quantinuum worth $9.4B.
HONA · Capital · Positive Honeywell Aerospace now a separate public entity, trading at 27x forward earnings.
QNT · Capital · Positive Quantinuum taken public with $19.5B market cap, benefiting from spinoff and Honeywell's retained stake.
SOLS · Demand · Positive Solstice Advanced Materials surged 66% since spinoff, with exposure to AI and nuclear energy, and trades at 30x earnings with >20% growth.
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