Honeywell is considering spinning off its aerospace business with the development coming about a month after an activist investor had called on the industrial conglomerate to do so. The company said its board has made strides in contemplating strategic alternatives and plans to announce an update alongside its fourth-quarter earnings release in January. “Since aligning our business this past January to three compelling megatrends—Automation, the Future of Aviation and Energy Transition—we have been moving swiftly and decisively to optimize the Honeywell portfolio to deliver superior growth and drive incremental shareholder value,” said CEO Vimal Kapur in a statement.