The industrial conglomerate model has hindered Honeywell's ability to innovate and drive shareholder value.Shares of Honeywell International (HON -0.24%) hit a new all-time high on Tuesday on news that activist investor Elliott Investment Management had amassed a more than $5 billion stake in the industrial conglomerate. With ownership of between 3% and 4% of the stock, it's now the largest activist investor in the company.Here's why breaking up Honeywell could be a net positive for the company, a noteworth ...