NEW YORK, May 27, 2026, 10:03 EDT
- Honeywell gained 0.9% to $233.86 early as traders watched plans for Quantinuum’s IPO come into view.
- Quantinuum is targeting a valuation as high as $12.7 billion and aims to go public on Nasdaq with the ticker QNT.
- Barclays boosted its Honeywell price target to $251 from $243, sticking with an “overweight” call, MarketScreener said. MarketScreener
Honeywell International Inc. shares traded higher early Wednesday after its quantum computing arm, Quantinuum, laid out terms for a U.S. IPO that could push its valuation to $12.7 billion.
The timing is notable, with Honeywell in the midst of a break-up plan. If Quantinuum gets a public-market price, investors will get another reference as they look at what Honeywell’s automation business is worth and work out their views on the aerospace unit, which is still set to split off this year.
Honeywell shares were last up 0.9% at $233.86. The broader market was mixed. The S&P 500 ETF, SPY, dipped 0.2%. The Dow ETF, DIA, added 0.2%. Both SPY and DIA are exchange-traded funds that hold baskets of securities and trade like stocks.
Quantinuum is looking to offer around 21.05 million Class A shares, priced at $45 to $50 apiece, according to its latest filing with the U.S. Securities and Exchange Commission. If underwriters don’t take up their option for additional shares, Quantinuum said it expects net proceeds of about $941.7 million.
Quantinuum said in a filing that Honeywell will keep around 49.1% of the company’s combined voting power after the offering. Honeywell still plans to be a strategic customer and partner, Quantinuum said.
Quantinuum CEO Rajeeb Hazra described the offering period as “a defining period, not just for Quantinuum, but for the future of computing,” according to a letter in the filing. Quantum computing relies on quantum bits, or qubits, for calculations that standard computers can’t match, though this tech is still expensive and new. Securities and Exchange Commission
The IPO shines a light on a company with big risks. Quantinuum posted $5.2 million in net revenue and a net loss of $136.6 million in the first quarter. The company also warned that quantum systems aren’t ready to be widely useful and told investors the Class A stock is “highly speculative,” according to the filing. Securities and Exchange Commission
Barclays raised its price target on Honeywell to $251 from $243, keeping an overweight rating on the stock. That gives Honeywell a bit of analyst support, with the firm expecting shares to outperform its coverage group or benchmark.
GE Aerospace dropped 0.2%. RTX lost 1.4%. Emerson Electric, an automation peer, was flat. Honeywell’s move looked company-driven, not part of a bigger industrial sector move.
Honeywell reported in April that first-quarter sales were up 2% to $9.1 billion, and orders climbed 7%. Backlog stood at $38.3 billion. CEO Vimal Kapur called the results “a testament to the resiliency of the Honeywell portfolio.” The company kept its forecast for full-year adjusted earnings per share at $10.35 to $10.65. Honeywell International Inc.
Honeywell laid out its next investor dates. The company will hold an aerospace investor day June 3 and a general Honeywell investor day June 11. An aerospace spin-off is set for June 29, pending board approval and normal conditions.
