SeongJoon Cho | Bloomberg | Getty Images
A Honeywell Aerospace T55 engine at the Seoul International Aerospace & Defense Exhibition in Goyang, South Korea.
Earlier this year activist investor Daniel Loeb pushed Honeywell to shed the business to boost shareholder value by an estimated $20 billion and make it an industrial growth company focused on automation and productivity.
Aerospace is the conglomerate’s largest segment, representing 40 percent of annual sales. Shares are up 21 percent this year but fell 0.2 percent in morning trading on Friday.