Honeywell International (HON) stock will move to the Dow Jones Industrial Index August 31st. The move is part of “a shuffling of the index that will give it more of a technology flavor,” Business Insider noted. Honeywell will replace Raytheon Technologies in the index.

The decision was made to counteract the impact of Apple’s decision to do a 4-1 stock split which in turn will reduce the index's weight in the Global Industry Classification Standard (GICS) Information Technology sector.

Two other companies will join Honeywell - Salesforce.com Inc (CRM) and Amgen Inc. (AMGN) - which the S&P Dow Jones reported was to help offset the Apple split and “help diversify the index by removing overlap between companies of similar scope and adding new types of businesses that better reflect the American economy." 

Early stock movement today - after the announcement was made after trading closed yesterday - saw Honeywell stock jump over 3.5%, Marketwatch reported.