Honeywell, one of the last remaining American industrial giants, announced it will split into three companies Thursday after investor pressure.

Honeywell is splitting into three independently listed companies, breaking up one of America's last standing conglomerates just months after activist investor Elliott Management took a $5 billion stake in the industrial giant.

Honeywell plans to separate its automation and aerospace technologies businesses from the U.S. industrial conglomerate, following similar actions by companies such as General Electric and Alcoa