On February 6, Honeywell announced it would be splitting its operations in aerospace and home automation. It had previously indicated it would be spinning out its advanced materials business. The total split was prompted by an activist position taken by Elliott Investment Management in November of last year.

Honeywell Aerospace Technologies will become a separate entity since Honeywell International plans to follow through with a major shake-up.

Honeywell Aerospace will become a separate company with its headquarters still in Phoenix, officials confirmed after details of its parent company's breakup were announced Thursday morning.