Honeywell Surges Nearly 5% After Elliott's $5B Stake and Breakup Push [Yahoo! Finance]
RTX Corporation (RTX)
Company Research
Source: Yahoo! Finance
The fund is pushing for the industrial giant to split into two separate companies: one focused on aerospace, the other on automation. Their reasoning? The current setup is holding Honeywell back, with uneven execution and inconsistent financial results over the last five years. Elliott says breaking things up could supercharge the stock by 51-75% over the next two yearsand the market seems to agree. Honeywell shares jumped nearly 5% on the news, their best run in four years. Elliott's move isn't just boldit's timely. Honeywell's new CEO, Vimal Kapur, has already been on a streamlining spree, spinning off the advanced materials unit and shedding businesses that don't align with his focus on automation, aviation's future, and clean energy. Elliott's plan to simplify the company dovetails perfectly with this strategy, taking cues from successful breakups at peers like GE and United Technologies. In their letter to Honeywell's board, Elliott argued that ditching the conglomerate model w
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