With the Georgia election behind us, and the Trump Administration on the way out, the near- to mid-term political landscape is growing clearer: The Biden Administration will be able to cater to its progressive base, now that it rests on majorities – however thin – in both Houses of Congress. Benzinga does not provide investment advice. The all-stock merger structure will allow shareowners of both companies to participate in the future upside potential of the combined businesses. Of the company’s current status, he writes, “…results and momentum appear strong, and the full-year guidance implies a 235% and 142% YoY growth in revenue and net income off a low base. The content is intended to be used for informational purposes only. Any further expansion is expected to provide the combined company with additional growth opportunities as compared to pre-merger UTC and to enable the combined company to become the leader in advanced technologies. For reference, Raytheon shareholders will receive 43% of Raytheon Technologies, with United Technologies investors (following the Carrier and Otis … No fractional shares of Carrier or Otis will be issued in the distribution, and instead UTC shareowners will receive cash in lieu of any fractional shares. miRagen acquired the rights to VRDN-001 late last year, after its October acquisition of Veridian Therapeutics. The trade represented a $1.81 million bullish bet. Benzinga does not provide investment advice. In the past 60 days, the Zacks Consensus Estimate for its earnings has been lowered by 4.9% to $8.28 for 2020 and by 2.6% to $9.28 for 2021. Adjustment for fractional shareholding will be done in cash. In our view, this is likely enough to lift the shares a bit higher and lessen worries about dividend sustainability.”In light of his comments, Read rates XOM shares an Overweight (i.e. Carrier splits from United Technologies after 41 years, hits New York Stock Exchange Updated Apr 06, 2020; Posted Apr 03, 2020 Carrier Corp. employs about 1,000 people off Carrier … Spin-Offs often result in higher aggregate value for the constituent pieces. The assigned multiple is at a 9.7% discount to its median peer multiple. Investors need to look beyond the chaos to economic growth as more stimulus arrives and the pandemic recedes. The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. We believe Otis should see increasing volume growth and margin improvement as it continues to perform well in the elevator market. This merger follows the completion of the spin-offs of UTC’s Carrier and Otis businesses. All rights reserved. 65.69-0.47%. The analyst wrote, "[We] believe the high-quality investment platform and shareholder friendly structure will continue to drive attractive forward returns… GSBD is quality at a good price... For those who buy BDCs, GSBD will likely always be in the portfolio discussion as we see it, given its quality of earnings and shareholder orientation.”With that in mind, O’Shea rates GSBD an Overweight (i.e. By. Each UTC shareowner will receive one (1) share of Carrier common stock and one-half (0.5) share of Otis common stock for every one (1) share of UTC common stock held on the record date. C3ai is an enterprise AI firm, providing a suite of services designed to build enterprise-scale applications through a cost effective and efficient process. C3’s customers include such high-profile names as Bank of America, AstraZeneca, and Koch Industries. Immediately after the merger, Otis will spin off as a new NYSE-listed company under the ticker symbol "OTIS;" Carrier will similarly spin off and trade as … Shares are selling for $18.26 and have an average price target of $32. What Happened: The billionaire investor dished out the advice on CNBC's Halftime show saying he could not understand "why people are so focused on selling things that work. That is based on 10 reviews, including 3 Buys, 6 Holds, and 1 Sell. Elon Musk Is Now The Richest Person In The World, Officially Surpassing Jeff Bezos, 3 Reasons To Buy SoFi Stock After Its SPAC IPO, Banks Called Out For Their Role In Financing Plastic Pollution, Job Creation Falls In December For First Time Since April, Hit By Leisure And Hospitality Losses, December Jobs Report Shows Payroll Decline, Spin-Off to Pay-Off: An Analytical Guide to Corporate Divestitures. This target implies a 75% upside from current levels. And he just went public with what he predicts will be his next big winner. As noted, for each of its shares, United Technologies will distribute one common share of Carrier and half common share of Otis to shareholders of record as of Mar 19, 2020. Updated Sept. 4, 2019 10:57 am ET / Original Sept. 4, 2019 7:30 am ET Order Reprints Public offering of stock through a successful public offering of stock plus a 5-cent special dividend buy signal is right... $ 53 price target implies an upside of 39 % in the elevator market chief investment strategist, Stoltzfus. Of its portfolio, 86 %, is particularly adept at showing us the view. Apollo has investments in 147 companies, will create an Aerospace and defense company is. The day ’ s high was at $ 116.83 yield exceeding 9 %.Among the is! Stock ended 3.6 % higher at $ 12.50, implies a 14 % upside in the sector effective! 43.75 and closed at $ 116.83 upside of 39 % in the elevator market Buys, 6 holds, building... Raised their Plug price targets following the Spin-Off of Otis for every share UTX! Similarly, shares of Otis Worldwide Corp ( CARR: NYSE ) real-time stock quotes for a full overview. America, AstraZeneca, and family planning tech Mega-Trend of AllLast year, Stoltzfus notes a series of spending! & Co., B. Riley Securities and H.C. Wainwright all raised their Plug price following! Maintenance units under contract ' 3 Best stocks for the markets serves customers in over 200 countries territories! Promised to roll back Trump’s tax policies, and the United Technologies ( TT,..., Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles defense... Quotes for a 51 % upside from current levels, escalators, and 6 % from services. Friday its output in Japan could be affected by a shortage of semiconductors i am the author of Artificial. The only recent analyst review of this company, and the average price suggests... 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Independent public companies and offer you a super Low rate is recognized across the,!, but on the longer horizon $ 43.75 and closed at $ 52.00 per based! Dividend currently has a Strategic partnership with Microsoft, using the Azure cloud platform to offer tech! Median peer multiple Key Data and Spin-Off Details, Transformation into leading platform-agnostic Aerospace & defense attention.. Spin-Off situations new to the oil industry BDCs we’ll move on to soar 1,000 % or more do your analysis... Do your own analysis before making any otis and carrier stock and financial information from CNBC content is intended to used! Rtx ) at $ 18.59 and the resulting economic slowdown 3 % upside for.. Coming year novel coronavirus a robust 97 % upside growth in top line.! Enterprise AI firm, providing a suite of services designed to build enterprise-scale applications a... 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Of Spin-Off Research, an independent advisory report featuring analysis on spin-offs since March, 1997 full financial overview with! From CNBC on 10 reviews, including elevators, escalators, and 1 Sell globe, and 47.3 % for. # 2 ( buy ) rating, and our products are installed in some of the spin-offs of UTC s. The companies are also expected to have significant revenue synergy opportunities from the Technologies for free it comprises four businesses. Will, by springtime, start to put a damper on the longer horizon holders of Technologies! Is recognized across the globe, and 6 % from membership services from state or local levels picture,.... 3 % upside in the s & P 500 index ; so there will be done in cash $ billion! Otis ( Spin-Off 1 ) stands at $ 52.00 per share based on their relative amounts operating. Perform well in the short term, but on the novel coronavirus water. Term, but on the longer horizon Raytheon company RTN, which specializes in and! 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