Alphabet joins Dow Jones, replacing Verizon after Honeywell split

Honeywell announced a spin‑off of its Aerospace division (HONA) on June 29, 2026, completing the breakup of its conglomerate structure. The move prompted S&P Dow Jones Indices to review the Dow Jones Industrial Average composition.

On June 23, the index committee confirmed that Alphabet (GOOG/GOOGL) will replace Verizon Communications (VZ) in the Dow, effective before the June 29 opening. Verizon was removed because its lower share price reduced its weighting in the price‑weighted index, while Alphabet’s post‑stock‑split price and dominant position in technology meet the Dow’s criteria. The addition makes Alphabet the Dow’s sixth‑largest component and reflects the index’s growing emphasis on tech firms.

The reshuffle has limited immediate market impact beyond rebalancing funds that track the Dow, but it underscores a broader shift toward technology‑focused companies in the U.S. benchmark index.