Why Honeywell Stock Topped the Market on Tuesday

News of a business rationalization measure lifted Honeywell International (NASDAQ: HON) stock comfortably into positive territory on Tuesday. The storied industrial company's shares closed the day almost 2% higher, a figure that was more than high enough to top the benchmark S&P 500 index's increase of less than 1%.Well before the market open, Honeywell broke the news that it plans to spin off its advanced materials business unit. It would be separated into an independent, publicly traded company. This process should be completed by the end of 2025 or early the following year. It is part of a broader effort by management to slim down and become a more focused operation. Advanced materials isn't an immense part of the veteran industrial company, which is likely one reason the investor reaction to the news wasn't stronger. Still, the business will be large enough to be a fully self-contained entity that actively trades on the stock exchange. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool