Honeywell is splitting into three independently listed companies, breaking up one of America's last standing conglomerates just months after activist investor Elliott Management took a $5 billion stake in the industrial giant.

Honeywell International Inc. will split into separate publicly traded companies following pressure from an activist investor, the latest in a line of industrial conglomerates seeking a more streamlined portfolio.

Honeywell said it will split into three companies. The aerospace giant said it will separate its aerospace, automation and advanced materials units into distinct entities in 2026.