Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, April 3, 2020

Article Excerpt

RAYTHEON TECHNOLOGIES CORP., $49.93, New York symbol RTX, is still our #1 Conservative Buy for 2020. The company took its current form on Friday with the merger of United Technologies Corp. (old symbol UTX) and Raytheon Co. (old symbol RTN). Under the terms of the deal, Raytheon shareholders received 2.3348 shares in the combined company for each share they held. Those shareholders now own 43% of the new company; United Technologies investors own the remaining 57%. The combined firm is a leading maker of commercial aircraft equipment, electronic systems for military aircraft and radar systems, and guided missiles. Just before the merger, United Technologies completed the planned spinoffs of its Otis (elevator) and Carrier (heating and air conditioning equipment) operations as separate public companies. Investors received 0.5 of a share in Otis Worldwide Corp. $47.32 (New York symbol OTIS) for each United Technologies share they held. They also received one share in Carrier Global Corp. $16.92 (New York symbol CARR) for each UTX share. Investors…

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