Honeywell Stabilizes Amid Separation into Automation Focused Entity
Honeywell International's shares have stabilized as the company continues its multi-year separation into three independent public companies, focusing on advanced materials, aerospace, and automation.
The separation plan has reached an advanced stage, with one materials-focused business already spun off and an aerospace-focused business following suit. This leaves behind a streamlined automation pure-play trading under the historic Honeywell name.
A new executive appointment within the Process Technology business adds another data point on how the remaining automation-focused entity is organizing its management team.
Honeywell's automation business has reported a healthy order backlog across process-control and building-technology units, even as some near-term softness in shorter-cycle product lines tied to general industrial capital spending has been flagged.