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 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, one of the last remaining American industrial giants, announced it will split into three companies Thursday after investor pressure.

Honeywell said it would separate its aerospace and automation businesses into separate entities, alongside its previously announced spin-off of the advanced materials unit

Honeywell will split into three separate businesses, starting with Advanced Materials in late 2025, followed by Honeywell Automation and Aerospace in late 2026.