The news Activist hedge fund Elliott Management on Tuesday disclosed a more-than-$5 billion stake in Honeywell —arguing the industrial conglomerate should consider a breakup.
Elliott's position in Honeywell is its largest ever in a single stock, according to Bloomberg News, which first reported the activist's plans.
The crux of Elliott's plan is a separation of Honeywell's aerospace and automation businesses into standalone companies.
Honeywell's stock is up nearly 32% over the past five years compared with a 92% gain for the broader S & P 500 .
Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons:
Jim Cramer isn't, Elliott, Honeywell —, Stacey Jones, Vimal Kapur, Jim, Honeywell, we've, We've, Jim Cramer's, Jim Cramer
Organizations:
Honeywell, Elliott Management, Bloomberg News, CNBC, Carrier, Wall, Robotics, Honeywell Intelligrated