Honeywell stock climbs as company reviews strategic alternatives

Honeywell HON.O stock rises 0.4% as company evaluates strategic alternatives for two businesses ahead of its three-way split

Company aims to simplify portfolio by reviewing Productivity Solutions and Services and Warehouse and Workflow Solutions units, each generating over $1 billion in revenue in 2024

HON's stock has advanced about 6% year to date, in line with the Nasdaq .IXIC, which also rose 6%

Stock is about 1% below its 52-week intraday high of $242.77 reached on November 12, 2024

HON recently traded at 22 times its expected earnings, suggesting it may be close to fairly valued compared to its average forward PE of 22 over the last five years