Honeywell Aerospace rises in Nasdaq debut

Honeywell Aerospace rises in its Nasdaq debut, continuing Honeywell’s planned three-way split. On Monday, shares of the aircraft engine, electronics and defense systems maker opened at $236.78, up 7% from the $221.01 close in “when-issued” trading earlier this month. The separation, announced for 2025, is expected to conclude this year, creating three standalone companies focused on automation, aerospace and advanced materials. Honeywell Aerospace makes components used by customers including Boeing and Airbus, as well as airlines and the U.S. military. The IPO timing reflects strong investor appetite for aerospace and defense, including interest tied to U.S. military spending. Separately, Honeywell Aerospace is set to make a $500 million investment under a Pentagon agreement from March to boost precision-guided munitions production. The firm expects $6.5 billion in adjusted earnings by 2030, with 2024 sales growth of 7% to 9% and free cash flow of $1 billion to $1.5 billion.