Infrastructure spending spurs these spinoffs

Article Excerpt

Carrier has soared 258% and Otis is up 86% since Raytheon Technologies Corp. (New York symbol RTX), formerly United Technologies (old symbol UTX) spun them off in April 2020. For each UTX share they held, investors received 0.5 of a share in Otis and 1 share in Carrier. Both spinoffs should continue to move higher over the next few years, particularly as the new U.S. infrastructure plan further spurs demand for their equipment and services. CARRIER GLOBAL CORP. $52 is a buy. This company (New York symbol CARR; Manufacturing & Industry sector; Shares outstanding: 866.6 million; Market cap: $45.1 billion; Price-to-sales ratio: 2.5; Dividend yield: 1.2%; TSINetwork Rating: Average; www.carrier.com) is a leading maker of heating, ventilation and air conditioning (HVAC) equipment. It also makes fire and security products, such as smoke detectors, as well as refrigeration equipment. Carrier will now sell its Chubb Fire & Security business to APi Group Corp. (New York symbol APG) for $3.1 billion. Based in the U.K., Chubb makes burglar…

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