Honeywell International Inc. will split into separate publicly traded companies following pressure from an activist investor, the latest in a line of industrial conglomerates seeking a more streamlined portfolio.

Honeywell said on Thursday it will split into three independently listed companies, breaking up one of America's last standing conglomerates just months after activist investor Elliott Management took a $5 billion stake in the industrial giant.

Honeywell is to split into three separate publicly listed companies separating its aerospace, automation, and advanced material businesses.

And what we've seen with other conglomerates that have done these big break ups is it usually takes a couple of them to get to the final simplified structure that these companies end up settling on. We've seen that with Danaher,

Honeywell is splitting into three independently listed companies, breaking up one of America's last standing conglomerates just months after activist investor Elliott Management took a $5 billion stake in the industrial giant.