Honeywell Aerospace shares trade at valuation discount after aerospace separation
Merion Road’s large-cap portfolio rose 3.9% in the quarter, while its small-cap fund gained 16.6%, led by Frequency Electronics. At quarter-end, Honeywell completed the separation of its aerospace division, and the stock later settled at a valuation multiple below peers. Honeywell Aerospace also saw weak performance, with a one-month return of -21.41%.