It argues that separating Honeywell would lead to simplified strategies, focused management, enhanced capital allocation and better operational performance.

Activist investor Elliott Investment Management stated in a letter addressed to Honeywell’s Board of Directors that it wants Honeywell International Inc. to spin-off its Aerospace Technologies business.

Activist investor Elliott Investment Management said Honeywell should split into two separate businesses on Tuesday, following in the footsteps of other industrial conglomerates that have broken up in recent years.