Spinoff creates two new buys for you

Article Excerpt

On April 3, 2020, United Technologies Corp. completed its merger with Raytheon Co.—the most-recent in a series of steps to unlock investor value. The merger gives you a stake in Raytheon Technologies Corp. (New York symbol RTX)—now the leading maker of commercial and military aircraft equipment and electronics, radar systems and guided missiles. Before that key move, United Technologies had already gifted investors with the spinoff of two of its major operations—its Otis (elevator) business, and its Carrier (heating and air conditioning equipment) unit. For each UTX share investors held, they received 0.5 of a share in Otis and 1 share in Carrier. Both of those new companies are off to a strong start for investors, despite COVID-19 concerns. We’re confident that they will continue to move higher for you in the next few years as they gain prominence in their markets. OTIS WORLDWIDE CORP. $48 is a spinoff buy. The stock (New York symbol OTIS; Manufacturing & Industry sector; Shares o/s: 433.1 million; Market…