Honeywell Emerges as Pure-Play Automation Company
Honeywell International (NASDAQ:HON) has undergone significant changes in recent months. The industrial technology company, which now trades as Honeywell Technologies, has emerged from a separation of its aerospace arm.
The separation, completed at the end of June, created two independent public companies: Honeywell Aerospace and the remaining business. The latter is focused on building and process automation technologies for various industries such as commercial properties, refineries, and chemical plants.
The company's streamlined structure is expected to benefit from growing demand in areas like electrification, data center infrastructure, and industrial automation. Management describes the portfolio as aligned with three broad themes: automation, the energy transition, and digitization of physical operations.