Honeywell International Inc. (NASDAQ:HON) stock rose on Wednesday as its majority-owned quantum subsidiary, Quantinuum LLC, moved toward a potential public offering. The company also recently launched an AI retail initiative with Google Cloud.
The aerospace and automation company said its majority-owned quantum computing unit, Quantinuum, plans to confidentially submit draft IPO documents to the U.S. Securities and Exchange Commission.
IPO Plans
Quantinuum plans to file a draft registration statement for an initial public offering, though Honeywell has not disclosed the share count or an expected price range.
The company stated that the offering will depend on market conditions and the SEC’s review process.
According to Benzinga Pro, HON stock has gained over 3% in the past year. Investors can gain exposure to the stock via Themes Transatlantic Defense ETF (NASDAQ:NATO).
Also, Citigroup analyst Andrew Kaplowitz maintains a Buy rating on the stock, lowering the price forecast from $267 to $262.
Pact With Google Cloud
In a separate announcement, Honeywell introduced on Tuesday an AI-powered retail solution built with Alphabet Inc.’s (NASDAQ:GOOG) Google Cloud and 66degrees.
The Smart Shopping Platform is cloud-based and connects a retailer’s digital data with the physical store to create a more connected in-store experience.
Honeywell said the platform helps shoppers locate products quickly, compare alternatives and find substitutes when items are out of stock. The solution uses Google Gemini and Vertex AI to provide real-time product information, personalized assistance and dynamic recommendations.
Honeywell stated that the platform aims to make in-store shopping feel more like online shopping. The company added that retailers can implement the system without building large in-house AI teams.
Business Context
Honeywell operates across aerospace, automation and building technologies, serving industrial and commercial customers globally. Investors often compare Honeywell with industrial peers such as 3M Co. (NYSE:MMM).
HON Price Action: Honeywell Intl shares were up 1.29% at $212.99 at the time of publication on Wednesday, according to Benzinga Pro data.
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