Honeywell Aerospace Completes Spin-off From Honeywell Technologies, To Begin Trading On Nasdaq

(RTTNews) - Honeywell Aerospace Inc. (HONA), an aerospace and defense supplier, Monday announced that it has completed its spin-off from Honeywell International Inc. (HON) and will begin trading as a publicly traded company on the Nasdaq, effective at today's market opening.

"Honeywell Aerospace builds on a heritage of industry-defining innovations that began with the invention of the first autopilot in 1914. The company launches with more than 36,000 employees who deliver safe, efficient and reliable solutions to over 10,000 global customers.", the aerospace firm said in a statement.

The spin-off was completed by Honeywell Technologies by distributing all shares of Honeywell Aerospace common stock to Honeywell Technologies shareholder of record as of June 15, whereby each shareholder received one share of Honeywell Aerospace common stock for every two shares of Honeywell Technologies common stock owned.

Shareholders received cash in lieu of fractional shares of Honeywell Aerospace common stock held.

On Friday, HON shares closed at $232.21, up 0.42% on the Nasdaq.