Honeywell Aerospace to Join S&P 100 and 500, Shares Jump 9.4%
Honeywell Aerospace will join the S&P 100 and S&P 500 on June 29, sending when-issued shares up 9.4% in after-hours trading. Shareholders as of June 15 receive one HONA share for every two HON shares, while the automation unit, Honeywell Technologies, undergoes a 1-for-2 reverse split.
1. Index Inclusion Details
Honeywell Aerospace will replace Honeywell International in the S&P 100 and Conagra Brands in the S&P 500 when the spin-off finalizes on June 29. This double inclusion broadens institutional demand and may trigger portfolio adjustments as funds tracking these benchmarks establish positions.
2. Spin-Off Mechanics and Record Date
The distribution grants existing Honeywell shareholders one HONA share for every two HON shares held as of the June 15 record date. Concurrently, the remaining automation-focused business, renamed Honeywell Technologies, will execute a 1-for-2 reverse stock split, halving its outstanding shares from approximately 634 million to 317 million.
3. Market Reaction and Growth Outlook
When-issued trading under HONAV surged 9.4% in after-hours trading, reflecting investor enthusiasm for pure-play aerospace exposure. Management forecasts 6–8% annual sales growth for the aerospace unit, while Honeywell Technologies targets 4–6%; the split positions the businesses for valuation multiples more aligned with direct peers.
