Here's Why Honeywell Stock Popped Higher Today

Honeywell International's stock rose 4.4% after its board formally approved the spinoff of Honeywell Aerospace, completing the company's breakup into two focused entities: Honeywell Aerospace (aerospace and defense) and Honeywell Technologies (building, process, and industrial automation). Both companies have strong growth prospects, with Aerospace targeting 6%-8% annual sales growth through 2030 and the automation company targeting 4%-6% growth with over 10% annual EPS growth.