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

Honeywell said on Thursday it will split 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 Aerospace will become a separate company with its headquarters still in Phoenix, officials confirmed after details of its parent company's breakup were announced Thursday morning.