Two new buys from our #1 Conservative pick: Otis Worldwide Corp. and Carrier Global Corp.

Article Excerpt

United Technologies gifted its investors with two spinoffs following its April merger with Raytheon Co. For each UTX share they held, investors received 0.5 of a share in Otis (elevators) and 1 share in Carrier (heating and air conditioning equipment). We’re confident these two spinoffs will move higher for you in the next few years. Meantime, the merged parent company—Raytheon Technologies Corp. (New York symbol RTX)—is focused on satisfying strong demand for its own products. They include radar systems and guided missiles. The stock remains our #1 Conservative buy for 2020. OTIS WORLDWIDE CORP. $56 is a buy. The company (New York symbol OTIS; Conservative Growth Portfolio; Manufacturing & Industry sector; Shares outstanding: 433.1 million; Market cap: $24.3 billion; Price-to-sales ratio: 1.9; Dividend yield 1.4%; TSINetwork Rating: Average; is the world’s largest and most-respected maker of elevators and escalators. Otis’s revenue in the first quarter of 2020 fell 4.4%, to $2.97 billion from $3.10 billion a year earlier. The drop reflects COVID-19 and its impact…

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