Jim Cramer Shows Enthusiasm Around Honeywell’s Aerospace Business Spin-Off

Honeywell International Inc. (NASDAQ:HON) was one of the stocks on Jim Cramer’s radar as he cautioned that SpaceX could blow past its opening price. Cramer highlighted the stock’s rally, as he remarked:

You know, I’ve been pretty darn enthusiastic about Honeywell’s plan to spin off its aerospace business later this month, and today the market got as excited as I am, with the stock jumping 6.4% after a bullish analyst meeting… My Charitable Trust has a big position. We want to be bigger. I think this is the kind of company that is not expensive, that has a great growth path… We’re keeping both pieces because both are terrific.

Photo by Yiorgos Ntrahas on Unsplash

Honeywell International Inc. (NASDAQ:HON) develops and sells technologies and solutions across aerospace, industrial automation, building management, and energy and sustainability. During the April 28 episode, a caller mentioned the company’s previous and upcoming spin-offs, and Cramer responded:

That’s true. Here’s what’s going to happen… June 30th, they’re going to be able to split the company up. It’s going to be industrial, automation, and going to be airline… Already split off the chemical. I have to tell you, this aircraft business is going to be a fantastic business. One day, the war in Iran will end. People realize that the aircraft business is kind of a work in progress. They’re going to fix it, and it’s going to be just like DuPont, I think, once they get out of this breakup purgatory. And people don’t respect Honeywell; they don’t respect it, and they’re making a very big mistake.

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