Honeywell Stock Slumps After Spin-Off

Honeywell International Inc. (HON) is an industrial automation and aerospace company based in Charlotte, North Carolina.

The company's stock has underperformed the broader market over the past year, growing just 7.1% compared to the S&P 500 Index's ($SPX) 19.9% surge.

In June, HON announced the completion of its spin-off of its Aerospace Technologies business and a new ticker for the spin-off company, which would trade on NASDAQ under the ticker HONA.

The market did not react positively to the split, leading to a 6.8% decline in HON's stock value that day.

Analysts expect HON's EPS to fall 57.8% to $8.25 on a diluted basis for the current fiscal year, which ended last month.