Madison Fund Buys Honeywell Stake Before 2026 Business Split
Madison Large Cap Fund initiated a new position in Honeywell during Q4 2025, contributing to a fund gain of 3.43% versus the S&P 500’s 2.65% return. Shares returned 12.45% over the past month and management plans an aerospace and automation business split in H2 2026.
1. Madison Fund Initiates Position
In the fourth quarter of 2025, Madison Large Cap Fund added Honeywell to its portfolio, resulting in a 3.43% return for the quarter compared with a 2.65% gain for the S&P 500. The move underscores the fund’s confidence in Honeywell’s ongoing transformation and long-term prospects.
2. Portfolio Transformation Timeline
Honeywell has been divesting and spinning off various assets throughout 2025 and is preparing to separate its aerospace and automation businesses in the second half of 2026. Management expects the split to sharpen strategic focus, enhance return on invested capital and unlock growth opportunities for each standalone unit.
3. Recent Performance Metrics
Honeywell shares have delivered a 12.45% return over the past month and a 22.35% gain over the past 52 weeks. The company holds a market capitalization of approximately $164.16 billion, reflecting investor interest in its transformation roadmap.