Early on the morning of Aug. 6, 1945, a modified American B-29 Superfortress bomber named the Enola Gay took off from Tinian on a top-secret mission.
The aircraft, named after pilot Col. Paul Tibbets’ mother, was headed to Hiroshima, Japan, carrying a devastating new weapon that would change the course of history.
The Enola Gay was equipped with a C-1 gyroscopic autopilot system made by a company then known as Minneapolis-Honeywell.
The system, integrated with the Norden bombsight, allowed the bombardier to take hands-free control of the aircraft during the final bomb run and release Little Boy, the first nuclear weapon used in warfare, from 30,000 feet.
At 8:15 a.m. local time, that is exactly what happened.
It was one of the most consequential examples of Honeywell technology being used in the field. The company’s history, however, began six decades earlier.
Here’s the story of how Honeywell grew from a thermostat manufacturer into the global aerospace titan it is today, along with a timeline of key milestones in the company’s history.
Honeywell’s early years
Honeywell (HON) traces its roots to the Butz Thermo-Electric Regulator Company, founded in 1886 in Minneapolis after Swiss-born inventor Albert Butz developed the damper-flapper, a thermostat designed to control coal furnaces and bring automated temperature regulation into homes.
Butz’s company would eventually grow into a multinational conglomerate with a market capitalization of roughly $148 billion and a corporate slogan proclaiming, “The Future Is What We Make It.”
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After a falling out with investors, Butz left the company and transferred his patents to the law firm Paul, Sanford and Merwin, which renamed the business the Consolidated Temperature Controlling Co.
The company struggled with debt and underwent several name changes. After it was renamed the Electric Heat Regulator Co. in 1893, stockholder W.R. Sweatt acquired an extensive portfolio of patents and was named secretary-treasurer.
Meanwhile, Mark Honeywell founded the Honeywell Heating Specialty Co. in Wabash, Indiana, to manufacture and market his invention, the mercury seal generator.
The two companies merged in 1927 to form the publicly traded Minneapolis-Honeywell Regulator Co., with Honeywell serving as its first president and Sweatt as its first chairman.
Minneapolis-Honeywell entered a period of global expansion, and with the outbreak of World War II, the company was tapped by the U.S. military for a variety of engineering and manufacturing projects.
In the 1950s, Minneapolis-Honeywell evolved from a specialized heating and industrial controls company into a diversified technology and aviation powerhouse.
Honeywell enters the Space Age
During the decade, when the company adopted the slogan “First in Control” to mark its 70th anniversary, Honeywell secured a contract to build control systems for the USS Nautilus, the world’s first nuclear-powered submarine.
The company also introduced the T-86 “Round” thermostat, which became a staple in American homes, and entered the computer business through Datamatic Corp., a venture formed to compete with IBM (IBM).
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Honeywell officially shortened its name from Minneapolis-Honeywell Regulator Co. to Honeywell in 1963, reflecting how customers already referred to the brand.
During and after the Vietnam War era, Honeywell’s defense division produced a range of military products, including cluster bombs, missile-guidance systems, napalm, and land mines. The contracts sparked protests that targeted the company’s Minneapolis headquarters.
Honeywell reached for the stars in 1969, supplying stabilization, control, and environmental systems for the Apollo 11 mission that carried the first humans to the Moon.
Over the following decades, Honeywell expanded further into avionics, automation systems, specialty materials, and aerospace technologies, becoming a major supplier to both commercial and military customers around the world.
On June 7, 1999, Honeywell was acquired by AlliedSignal, which elected to retain the Honeywell name because of its strong brand recognition.
In late 2000, General Electric (GE) attempted to acquire Honeywell in a deal valued at roughly $45 billion. The merger was ultimately blocked by European Union regulators over antitrust concerns.
Following the failed acquisition, Honeywell streamlined its operations and eventually spun off businesses such as Garrett Motion and Resideo, sharpening its focus on aerospace, industrial automation, and sustainable technologies.
Vimal Kapur, who has been with the company for nearly four decades, became chief executive officer in 2023 and chairman of the board in 2024.
Honeywell employs roughly 100,000 people across about 80 countries and maintains a workforce that includes a large concentration of engineers and scientists.
Honeywell
Honeywell’s stock & financials
The company reported full-year 2025 revenue of $37.44 billion, up 7.85% from the prior year. Adjusted earnings for the year rose 12% to $9.78 per share.
Honeywell has undergone seven stock splits during its history, with the most recent occurring on Oct. 30, 2025. A reverse stock split is set to occur at the end of June 2026.
The company became a component of the Dow Jones Industrial Average in 1999 following the AlliedSignal acquisition. AlliedSignal’s predecessor, Allied Chemical, had previously been represented in the index dating back to 1925.
Honeywell was removed from the Dow in 2008 after its revenue and earnings lagged those of other industrial companies in the index.
The company rejoined the Dow in 2020, replacing Raytheon Technologies. A year later, Honeywell moved its stock listing from the New York Stock Exchange to the Nasdaq.
Today, analysts remain divided between Buy and Hold ratings, with some firms citing valuation concerns and exposure to cyclical industrial markets.
The future of Honeywell and its stock
In 2025, Honeywell announced plans to split into three independent companies: Honeywell Automation, Honeywell Aerospace, and Solstice Advanced Materials.
The aerospace separation is scheduled to be completed on June 29, 2026, with the new company expected to begin trading on the Nasdaq under the ticker symbol HONA. Honeywell shareholders of record can expect to “receive one share of Honeywell Aerospace common stock for every two shares of Honeywell common stock owned.”
Analysts have estimated that Honeywell Aerospace and Honeywell Automation could be worth as much as $104 billion and $94 billion, respectively, following the breakup.
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“The formation of three independent, industry-leading companies builds on the powerful foundation we have created, positioning each to pursue tailored growth strategies and unlock significant value for shareholders and customers,” Kapur said in a statement.
During the company’s first-quarter earnings call, Kapur told analysts that the leadership teams for both Honeywell International and Honeywell Aerospace were already in place and executing their respective strategies.
“The future is bright as we set both businesses up to thrive with the right strategic focus and capital allocation priorities that will drive value for our customers, employees and shareholders,” Kapur said.
A timeline of key events and milestones in Honeywell’s history
April 23, 1885: Albert Butz patents the damper-flapper, a thermostat designed to control coal furnaces and bring automated temperature regulation into homes.
July 15, 1927: Minneapolis-Honeywell Regulator Company is founded through the merger of the Minneapolis Heat Regulator Company and the Honeywell Heating Specialty Co., which was founded in 1906.
Oct. 5, 1942: Honeywell opens its dedicated Aero division after the C-1 autopilot system was successfully installed and test-flown on a B-17 bomber.
Sept. 29, 1953: Honeywell introduces the iconic “round” thermostat, which becomes an interior design and household staple.
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April 12, 1955: Honeywell and Raytheon officially launched a joint venture called the Datamatic Corporation to enter the burgeoning computer market.
May 8, 1963: Minneapolis-Honeywell Regulator Company officially shortens its corporate name to Honeywell.
Nov. 14, 1986: Honeywell announces its agreement to acquire the Sperry Aerospace Group from the Unisys Corp.
Sept. 18, 1970: Honeywell acquires General Electric’s computer division.
Nov. 1, 1999: Honeywell enters the Dow Jones Industrial Average.
Dec. 1, 1999: AlliedSignal officially merges with and acquires Honeywell, retaining the Honeywell name for its brand equity.
July 3, 2001: European regulators block General Electric’s attempted $45 billion acquisition of Honeywell.
Oct. 10, 2017: Honeywell spins off its residential and transportation divisions into independent, publicly traded companies — Resideo and Garrett Motion.
Feb. 6, 2025: Honeywell announces its intention to separate its portfolio into three distinct, standalone entities: Aerospace, Automation, and Advanced Materials.
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