Hedge fund giant Elliott targets Honeywell, with a massive stake exceeding $5 billion!
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Hedge fund Elliott Management has become one of Honeywell's top five shareholders, investing over $5 billion, setting a record for its largest investment in a single stock. Elliott believes that Honeywell's business is too complex and plans to enhance the company's value through a spin-off. Honeywell's growth rate has failed to keep pace with the industry, its price-to-earnings ratio is low, and the historical premium for high valuations has weakened. Recently, Honeywell announced the spin-off of its advanced materials division to simplify its business structure
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