HONEYWELL INTERNATIONAL INC HON → Honeywell Aerospace Inc. HONA
| Parent | HONEYWELL INTERNATIONAL INC HON |
|---|---|
| Spinco | Honeywell Aerospace Inc. HONA |
| Status | Completed |
| Structure | Spin-off A filing states a pro-rata distribution: holders receive shares automatically. |
| Focus | Focus-increasing Parent and spinco operate in different industries — the class the research associates with stronger post-separation returns. |
| Ratio | 1 Honeywell Aerospace share for every 2 Honeywell shares |
| Checked against EDGAR | 2026-08-21 |
Data trap
Parent and spinco both report EDGAR SIC 3724 (Aircraft Engines & Engine Parts) — Honeywell's own code still describes the business it spun off. Any screener that groups or classifies by SIC will treat HON and HONA as the same industry. Honeywell's pre-2026-06-29 fundamentals also still include aerospace.
The restated filings have landed; this is kept as history.
Catalyst clock
- 2025-02-06Separation announced
- 2026-03-03Form 10 filed
- 2026-06-08Form 10 last amended
- 2026-06-11Form 10 effective
- 2026-06-15Record date
- —When-issued trading opens
- 2026-06-29Distribution
- 2026-08-05First standalone earnings
- 2026-06-23Index inclusion announced
Performance since separation
| Honeywell Aerospace Inc. since separation | -25.19% |
|---|---|
| HONEYWELL INTERNATIONAL INC over the same window | -5.22% |
| S&P 500 (SPY) over the same window | +3.34% |
| Russell 2000 (IWM) over the same window | +0.33% |
| Excess over the S&P 500 | -28.53% |
| Excess over the Russell 2000 | -25.52% |
Measured from the first regular-way close on or after the distribution — 2026-06-29 at 220.19 — to 2026-08-21 at 164.73. Window: 2 months. That is a short window. Treat it as a fact about these few weeks, not as evidence about how the separation turns out. Two benchmarks, because one is misleading: spin-offs are usually small companies, and across this period small caps lagged the S&P by several points a year on their own. Measured against the S&P alone, roughly a third of any shortfall is company size rather than the separation. Returns are arithmetic over end-of-day closing prices. Unlike every other figure on this page, they do not come from a filing.
Pre-distribution investor return
| Parent, announcement to separation | +10.67% |
|---|---|
| Combined (HONEYWELL INTERNATIONAL INC + Honeywell Aerospace Inc.), pre-distribution to now | +28.45% |
| Combined excess over the S&P 500 | +23.41% |
| Combined excess over the Russell 2000 | +28.41% |
Combined treats a pre-spin holding as 1 Honeywell Aerospace share for every 2 Honeywell shares valued at the parent's last close before regular post-spin trading resumed — 2026-06-26 at 232.21 — against that same basket today. That baseline is a practical proxy, not an attempt to isolate exactly how much value the separation transferred: for a large parent and a small spinco, ordinary day-to-day price noise can be bigger than the transfer itself. Run-up measures only the parent's own price, from the announcement date to that same baseline — how far the market had already moved before the separation's mechanics ever happened.
Filings
Every fact on this page comes from one of these.
- 10-12Bfiled 2026-03-03 · 0001628280-26-013549Initial Form 10 registration statement
- 10-12B/Afiled 2026-06-08 · 0001628280-26-041399Final amendment; Ex-99.1 carries the 1-for-2 ratio, the June 15 record date and the June 29 distribution date
- 8-Kfiled 2026-06-15 · 0001628280-26-043193Item 8.01 — confirms the Form 10 was declared effective on 2026-06-11 and the distribution date is 2026-06-29
- 8-Kfiled 2026-06-29 · 0001628280-26-045874Items 2.03 and 5.01 — separation completed
Notes
The cleanest full catalyst clock in this seed set: announcement, Form 10 filed and amended, effectiveness, record date, index add, distribution and first standalone earnings are all known. Focus-increasing, read from the Form 10 information statement rather than from the SIC codes, which are identical here and therefore uninformative. Ex-99.1 defines the “Automation Business” as “the businesses, activities and operations of Honeywell other than the Aerospace Business, including Honeywell’s businesses that provide industrial automation solutions,” and the spinco describes itself as “a leading global tier-1 aerospace and defense supplier.” Two disjoint industries by the filing’s own definition. This deal is the reason focus_class is never auto-derived — in either direction: identical codes are a reason to read the filing, not a reason to abstain.