Activist investor Elliott Investment Management said Honeywell should split into two separate businesses on Tuesday, following in the footsteps of other industrial conglomerates that have broken up in recent years.

Elliott Management is pushing for Honeywell International to split up its business after the activist investment fund built an over-$5 billion stake in the industrial conglomerate.

Elliott announced Nov. 12 that it has invested more than $5 billion in the Charlotte, North Carolina-based industrial conglomerate and sent a letter to the company’s board of directors demanding that it break up into two companies, one focused on aerospace and the other on automation.