Honeywell sets Oct 17 record date for Solstice spin-off

CHARLOTTE - Honeywell (NASDAQ:HON), a prominent industrial conglomerate with a market capitalization of $133.65 billion, announced Wednesday that its Board of Directors has established October 17, 2025, as the record date for the previously announced spin-off of Solstice Advanced Materials. According to InvestingPro analysis, Honeywell maintains strong financial health with a FAIR overall rating and has consistently paid dividends for 41 consecutive years.

The distribution of Solstice common stock is expected to occur on October 30, 2025, with Honeywell shareholders receiving one share of Solstice common stock for every four shares of Honeywell common stock held at the close of business on the record date.

Following the distribution, Solstice is expected to begin trading on the Nasdaq Stock Market under the ticker symbol "SOLS," while Honeywell will continue trading under "HON." A "when-issued" trading market for Solstice under the symbol "SOLS WI" is anticipated to begin around October 20.

Honeywell also announced the completion of Solstice’s $1 billion senior notes offering. The notes bear interest at 5.625% per annum, payable semi-annually, and will mature on September 30, 2033.

"We look forward to beginning our journey as a standalone company on October 30," said David Sewell, President and CEO of the Solstice Advanced Materials business.

The spin-off is expected to be tax-free to Honeywell shareholders for U.S. federal income tax purposes, except for cash received in lieu of fractional shares.

Solstice will host an Investor Day on October 8, 2025, in New York City, where leadership will provide details on the company’s specialty businesses and growth prospects.

The completion of the spin-off remains subject to certain conditions, including the Board’s final declaration of the distribution. The SEC declared effective the registration statement on Form 10 on September 30, 2025, according to the press release statement. Based on InvestingPro’s Fair Value analysis, Honeywell is currently trading near its Fair Value, with a solid return on equity of 35% over the last twelve months.

In other recent news, Honeywell announced a 5.3% increase in its annual dividend, raising it from $4.52 to $4.76 per share. This increase will be reflected in the fourth-quarter payment of $1.19 per share, scheduled for December 5, 2025. UBS has reiterated its Buy rating on Honeywell, maintaining a price target of $268.00, as the company undergoes significant transformation plans. The Solstice initiative is highlighted as a pivotal step toward establishing Honeywell as a pure-play building and industrial automation company. Additionally, Honeywell’s spin-off unit, Solstice Advanced Materials, has priced a $1 billion senior notes offering, which is a key step in its planned separation. The notes, due in 2033, carry an interest rate of 5.625% per annum. Honeywell also entered into a partnership with Redwire Corporation to enhance quantum-secured satellite communication systems. This collaboration is part of a European Space Agency-backed initiative, aiming to create a fully functional system by mid-2026.

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